Rupee gains 11 paise to close at 81.57 against US dollar

The rupee gained 11 paise to close at 81.57 (provisional) against the US dollar on Thursday, tracking the American currency’s overall weakness.

However, traders said that a flat trend in domestic equities and persistent foreign fund outflows limited the rupee’s gains.
The local currency opened strong at 81.54 against the US dollar on the interbank foreign exchange market, but fell to an intraday low of 81.74.
It eventually closed at 81.57 (provisional), up 11 paise from the previous close.

The rupee closed at 81.68 against the US dollar on Wednesday.

The dollar index, which measures the strength of the US currency against a basket of six currencies, fell 0.17 percent to 103.01.

Brent crude futures rose 0.92 percent to USD 83.44 per barrel, the global oil benchmark.
The 30-share BSE Sensex fell 147.47 points, or 0.25 percent, to end at 59,958.03, while the broader NSE Nifty fell 37.50 points, or 0.21 percent, to 17,858.20.

According to exchange data, foreign institutional investors (FIIs) were net sellers in the capital market on Wednesday, offloading shares worth Rs 3,208.15 crore.

Source:FE