Rupee settles 11 paise higher at 74.91 against US dollar

The rupee appreciated by 11 paise to settle at 74.91 (provisional) against the US dollar on Monday, tracking positive domestic equities and weak American currency.

At the interbank forex market, the rupee opened at 74.92 against the greenback, and touched a high of 74.89 and low of 75.03 during the session. It finally closed for the day at 74.91 against the American currency, up 11 paise over its previous close.

The domestic currency had settled at 75.02 against the US dollar on Friday.

Forex traders said positive opening in domestic equities, weak American currency and foreign fund inflows supported the rupee.

However, rising Covid-19 cases weighed on the local unit, they added.

The dollar index, which gauges the greenback’s strength against a basket of six currencies, fell 0.13 per cent to 95.81.