Extending its gains for the third straight session, the Indian rupee added another 6 paise to settle at a near five-month high of 72.99 against the U.S. dollar on Thursday, tracking a weaker American currency overseas and sustained foreign fund inflows.
At the interbank forex market, the rupee opened higher at 72.96 and touched the day's high of 72.93 against the greenback before shedding some gains towards the fag-end of the session.
It finally closed higher by 6 paise at 72.99 to the dollar, a level not seen since September 1, 2020.
On Wednesday, the rupee had settled at 73.05 against the American currency.
Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, slipped 0.31% to 90.19.
On the domestic equity market front, the BSE Sensex declined 167.36 points or 0.34% to end at 49,624.76; while the NSE Nifty slipped 54.35 points or 0.37% at 14,590.35.
Foreign institutional investors remained net buyers in the capital market as they purchased shares worth ₹2,289.05 crore on Wednesday, according to exchange data.
Brent crude futures, the global oil benchmark, dropped 0.87% to $55.59 per barrel.
You have reached your limit for free articles this month.
Subscription Benefits Include
Today's Paper
Find mobile-friendly version of articles from the day's newspaper in one easy-to-read list.
Unlimited Access
Enjoy reading as many articles as you wish without any limitations.
Personalised recommendations
A select list of articles that match your interests and tastes.
Faster pages
Move smoothly between articles as our pages load instantly.
Dashboard
A one-stop-shop for seeing the latest updates, and managing your preferences.
Briefing
We brief you on the latest and most important developments, three times a day.
Support Quality Journalism.
*Our Digital Subscription plans do not currently include the e-paper, crossword and print.
A letter from the Editor
Dear subscriber,
Thank you!
Your support for our journalism is invaluable. It’s a support for truth and fairness in journalism. It has helped us keep apace with events and happenings.
The Hindu has always stood for journalism that is in the public interest. At this difficult time, it becomes even more important that we have access to information that has a bearing on our health and well-being, our lives, and livelihoods. As a subscriber, you are not only a beneficiary of our work but also its enabler.
We also reiterate here the promise that our team of reporters, copy editors, fact-checkers, designers, and photographers will deliver quality journalism that stays away from vested interest and political propaganda.
Suresh Nambath
