Forex traders said persistent foreign fund inflows and lower crude prices supported domestic units
The rupee closed up 72 paise on Thursday with a gain of 2 paise against the US dollar.
Forex traders said persistent foreign fund inflows and lower crude prices supported domestic units.
In the interbank foreign exchange market, the local entity strengthened against the greenback at 72.48, but failed to make gains after a massive sell-off in the domestic equity markets.
During the session, it saw an intra-day of 72.43 and a low of 72.60. In the end, it rose 2 paise to close at 72.53 against the US currency. The rupee had closed at 72.55 against the US currency on Wednesday.
On the domestic equity market front, the BSE Sensex closed down 585.10 points or 1.17% at 49,216.52, while the broader NSE Nifty fell 163.45 points or 1.11% to close at 14,557.85.
The Dollar Index, which estimates the strength of the greenback against a basket of six currencies, advanced 0.24% to 91.65.
Brent crude futures, the global oil benchmark, fell 0.35% to $ 67.76 a barrel.
Foreign institutional investors remained net buyers in the capital market on Wednesday, according to exchange data, as they bought shares worth Rs 2,625.82 crore.
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