Finance
The rupee gained 5 paise against the US dollar on Monday, closing at 81.66 (provisional) as lower crude prices and a firm trend in domestic equities boosted investor sentiment.
Furthermore, a weak US dollar and foreign fund inflows bolstered the domestic currency, according to forex traders.
The local currency opened weak at 81.81 against the US dollar on the interbank foreign exchange market, reaching an intraday high of 81.61 and a low of 81.83.
The local unit eventually settled at 81.66, up 5 paise from its previous close of 81.71.
Meanwhile, the dollar index, which measures the strength of the US currency against a basket of six currencies, fell 0.35 percent to 105.59.
Global oil benchmark Brent crude futures declined 3.10 per cent to USD 81.04 per barrel.
On the domestic equity front, the 30-share BSE Sensex rose 211.16 points, or 0.34 percent, to a new closing high of 62,504.80, while the broader NSE Nifty rose 50 points, or 0.27 percent, to 18,562.75.
According to exchange data, Foreign Institutional Investors (FIIs) were net buyers in the capital markets on Friday, purchasing shares worth Rs 369.08 crore.
Foreign portfolio investors have rediscovered their fondness for Indian equities, making a net investment of Rs 31,630 crore in November in the hopes of a halt to aggressive rate hikes and an improvement in overall macroeconomic trends.
Source:FE
