Fresh foreign capital inflows helped the domestic unit gain for the second day in a row
The rupee on Thursday closed 11 paise higher at 75.26 (provisional) against the US dollar as heavy buying in domestic equities and weakness in the greenback strengthened investor sentiment.
Besides, fresh foreign capital inflows also helped the domestic unit gain for the second day in a row, forex traders said.
However, a rise in crude oil prices in the international market limited the gains of the rupee.
In the interbank forex market, the local unit strengthened against the greenback at 75.27, and moved in the range of 75.20 to 75.37 in the day’s trade. It finally closed at 75.26 against the US currency, registering an increase of 11 paise over its previous closing price.
On Wednesday, the rupee had closed at 75.37 against the US dollar.
On the domestic equity market front, the BSE Sensex ended 568.90 points or 0.94% higher at 61,305.95, while the broader NSE Nifty ended 176.80 points or 0.97% higher at 18,338.55.
Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, fell 0.28% to 93.81.
Global oil benchmark Brent crude futures rose 1.30% to $84.26 a barrel.
Foreign institutional investors emerged as net buyers in the capital markets on Wednesday as they bought shares worth Rs 937.31 crore, according to exchange data.
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