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Rupee surges 9 paise to 73.33 per US dollar, sustained foreign fund inflows

The domestic unit opened at 73.35 against the US dollar at the interbank forex market and later inched higher by 9 paise to 73.33 against the greenback over its previous close

twitter-logoBusinessToday.In | December 30, 2020 | Updated 11:49 IST
Rupee surges 9 paise to 73.33 per US dollar, sustained foreign fund inflows
On Tuesday, rupee appreciated by 7 paise to close at 73.42 per US dollar today, tracking weakness in the American currency and positive domestic equities

Indian rupee, the domestic currency appreciated by 9 paise to 73.33 per US dollar on Wednesday's opening trade, supported by sustained foreign fund inflows and weakness in the American currency in the overseas market. This was despite weakness in domestic euqities.

The domestic unit opened at 73.35 against the US dollar at the interbank forex market and later inched higher by 9 paise to 73.33 against the greenback over its previous close.

On Tuesday, rupee appreciated by 7 paise to close at 73.42 per US dollar today, tracking weakness in the American currency and positive domestic equities.

Meanwhile, the dollar index fell 0.28 per cent to 89.74 against a basket of six currencies.

On the domestic equity market front, market indices erased pre-open gains and fell to bearish territory on Wednesday, after six sessions of straight gains amid mixed cues from global markets. Sensex declined 70 points to 47,542 and Nifty was trading 20 points lower at 13,912.

Foreign portfolio investors (FPIs) bought shares worth Rs 2,349.53 crore, while domestic institutional investors (DIIs), were net sellers to the tune of Rs 2,010.50 crore in the Indian equity market on 29 December, provisional data showed.

Brent crude futures, the global oil benchmark, rose 0.43 per cent to USD 51.31 per barrel. Oil price continued to gain as US is seen moving forward with expanding pandemic aid package which is believed to spur fuel demand and stronger economic growth.

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