Comments
The rupee appreciated 56 paise to settle at 75.04 (provisional) against the US dollar on Thursday tracking weakness in the greenback and gains in the domestic equity market.
Forex traders said positive domestic equities and weak US currency supported the local unit. Moreover, investor sentiment strengthened after Pfizer reported encouraging vaccine test results.
The rupee opened at 75.51 against the US dollar, gained further ground and finally closed for the day at 75.04 against the US dollar, up 56 paise over its previous close.
It had settled at 75.60 against the greenback on Wednesday.
In highly volatile trade, the domestic unit witnessed an intra-day high of 74.99 and a low of 75.53.
Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, fell 0.26 per cent to 96.94.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.