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Rupee rises 4 paise to 73.51 amid weak US dollar, positive equities

The domestic unit opened at 73.52 against the US dollar at the interbank forex market, and rose 4 paise higher to 73.51 against the greenback, over its previous close

twitter-logoBusinessToday.In | December 28, 2020 | Updated 11:00 IST
Rupee rises 4 paise to 73.51 amid weak US dollar, positive equities
Meanwhile, the dollar index fell 0.05 per cent to 90.18 against a basket of six currencies

Indian rupee, the domestic currency appreciated by 4 paise to 73.51 per US dollar on Monday as sustained foreign fund inflows and strong domestic equities strengthened investor sentiment. Weakness of the American currency in the overseas market also supported the domestic unit.

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The domestic unit opened at 73.52 against the US dollar at the interbank forex market, and rose 4 paise higher to 73.51 against the greenback, over its previous close.

On Thursday, the rupee appreciated 21 paise to settle at 73.55 per US dollar tracking a rebound in domestic equities and sustained foreign fund inflows.

Forex and equity market were closed on Friday on account of Christmas.

Meanwhile, the dollar index fell 0.05 per cent to 90.18 against a basket of six currencies.

On the domestic equity market front, the 30-share BSE benchmark Sensex was trading 227.35 points higher at 47,200.89, and the broader NSE Nifty advanced 75.60 points to 13,824.85.

Foreign portfolio investors (FPIs) bought shares worth Rs 1,225.69 crore, while domestic institutional investors (DIIs), were net sellers to the tune of Rs 1,897.92 crore in the Indian equity market on 24 December, provisional data showed.

Brent crude futures, the global oil benchmark, fell 0.43 per cent to USD 51.07 per barrel.

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