Rupee gains 27 paise to close at 81.84 against US dollar

The rupee appreciated 27 paisa to close at 81.84 (temporary) against the US dollar on Thursday, tracking the broad weakness of the US currency in overseas markets.

In the interbank foreign exchange market, the local unit opened at 81.99 against the US currency and finally closed at 81.84 (temporary) against the dollar, recording gains of 27 pounds from its previous close.

During the session, the rupee touched a high of 81.83 and a low of 82.01 against the dollar.

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On Wednesday, the rupee closed at 82.11 against the greenback.

The dollar index, which measures the greenback’s strength against a basket of six currencies, fell 0.23 percent to 101.26.

The global oil benchmark, Brent crude futures, fell 0.27 percent to $87.09 a barrel.

On the domestic stock market front, there are 30 BSE stocks Sensex advanced 38.23 points or 0.06 percent to end at 60,431.00 and the broader NSE Nifty gained 15.60 points or 0.09 percent to 17,828.

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Foreign institutional investors (FIIs) were net buyers in the capital market, on Wednesday, buying shares worth Rs 1,907.95 crore, according to exchange data.

On the domestic macroeconomic front, Retail inflation fell in March to a 15-month low of 5.66 percent and back to the Reserve Bank’s comfort level of 6 percent.

India Industrial production growth rose marginally, to 5.6 percent in February from 5.5 percent in January 2023, mainly due to the good performance of the energy, mining and manufacturing sectors, according to official data released on Wednesday.