The rupee strengthened for the third straight session on Friday and closed 15 paise higher at 72.45 (provisional) against the US dollar tracking positive domestic equities.
At the interbank forex market, the local unit opened at 72.46 against the greenback and witnessed an intra-day high of 72.31 and a low of 72.49 during the session.
It finally ended at 72.45 against the American currency, registering a rise of 15 paise over its previous close.
On Thursday, the rupee had settled at 72.60 against the US dollar.
In the last three trading sessions, the rupee has appreciated by 51 paise.
Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, rose 0.14 per cent to 90.09.
Brent crude futures, the global oil benchmark, advanced 0.30 per cent to USD 69.67 per barrel.
On the domestic equity market front, the BSE Sensex ended 307.66 points or 0.60 per cent higher at 51,422.88, while the broader NSE Nifty advanced 97.80 points or 0.64 per cent to 15,435.65.
Foreign institutional investors were net sellers in the capital market on Thursday as they offloaded shares worth Rs 660.90 crore, as per exchange data.
Further, the rupee gained strength as daily COVID-19 cases declined, traders said.
The single day rise in coronavirus cases in India fell below the 2-lakh mark for the second time this month, while the recoveries continue to outnumber daily cases for the 15th consecutive day, according to the Union Health Ministry data updated on Friday.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
Dear Reader,
Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.
As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.
Support quality journalism and subscribe to Business Standard.
Digital Editor
RECOMMENDED FOR YOU