Rupee edges 2 paise higher at 73.06 against US dollar

Mumbai: The Indian rupee settled with a marginal gain of 2 paise at 73.06 (provisional) against the US dollar on Thursday despite a sustained rally in domestic equities.

At the interbank forex market, the local unit opened at 73.04 against the greenback and witnessed an intra-day high of 72.96 and a low of 73.13.

It finally ended at 73.06 against the American currency, registering a gain of just 2 paise over its previous close.

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On Wednesday, the rupee had settled at 73.08 against the US dollar.

“Rupee traded with minor gains near 73.05 on back of dollar index range moves near USD 93.50 strength in fund inflows into capital markets kept strength in rupee. The range for rupee can be seen between 72.85-73.25,” said Jateen Trivedi, Senior Research Analyst at LKP Securities.

On the domestic equity market front, the BSE Sensex ended 514.33 points or 0.90 per cent higher at a lifetime high of 57,852.54, while the broader NSE Nifty advanced 156.90 points or 0.92 per cent to close at record 17,233.15.

Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, fell 0.06 per cent to 92.39.

Brent crude futures, the global oil benchmark, rose 0.32 per cent to USD 71.82 per barrel.

Foreign institutional investors were net buyers in the capital market on Wednesday as they purchased shares worth Rs 666.66 crore, as per exchange data.

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