Rupee Extends Gains for 4th Day, Rises 29 Paise to 74.07 Against Dollar

The rupee rose by 29 paise to close at 74.07 (provisional) against the US dollar on Thursday, extending gains for the fourth straight session amid a positive trend in domestic equities. At the interbank forex market, the local unit opened at 74.20 against the greenback and witnessed an intra-day high of 73.94 and a low of 74.23.

It finally ended at 74.07 against the American currency, registering a rise of 29 paise over its previous closing. On Wednesday, the rupee had settled at 74.36. This is the fourth straight session of gain for the rupee, during which it has appreciated by 94 paise.

Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, rose 0.09 per cent to 90.69. Brent crude futures, the global oil benchmark, rose 1.07 per cent to USD 67.99 per barrel.

On the domestic equity market front, the BSE Sensex ended 32.10 points or 0.06 per cent higher at 49,765.94, while the broader NSE Nifty advanced 30.35 points or 0.20 per cent to 14,894.90. Foreign institutional investors were net buyers in the capital market as they purchased shares worth Rs 766.02 crore on Wednesday, according to exchange data.