Rupee rises 27 paise to 82.72 per dollar on forex inflows
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New Delhi: The rupee on Wednesday gained 27 paise to close at 82.72 against the American currency at the interbank forex market. This is the highest single-day gain in the last two months. Forex traders said increased investment inflows due to initial public offerings (IPOs) and a positive trend in domestic markets supported the upside. Lower crude oil prices also strengthened the rupee’s sentiment.
However, a stronger US dollar limited the rupee’s gains.
The rupee opened at 83.02 at the Interbank Foreign Exchange market. After moving in a range of 82.68 to 83.02 during the day, it finally closed at 82.72 per dollar, up 27 paise from its previous close.
Earlier, on June 16 this year, the Indian currency had recorded the highest gain of 35 paise in a single day.
In the previous trading session, the rupee had gained 14 paise to close at 82.99 against the US dollar.
Meanwhile, the dollar index, which gauges the US dollar’s position against a basket of six major currencies, rose 0.34 per cent to 103.91. Global oil benchmark Brent crude futures were trading down 1.11 per cent at $83.10 per barrel. The 30-share BSE index closed at 65,433.30, up 213.27 points. According to stock market data, foreign institutional investors remained net buyers in the capital market. He bought shares worth Rs 617 crore on Wednesday.
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