Indian rupee recovers 12 paise to close at 74.96 against the US dollar

The rupee ended its two-game losing streak to settle 12 paise higher at 74.96 (tentative) against the US dollar on Tuesday, following a positive trend in domestic stocks.

In the interbank forex market, the local unit opened at 75.05 against the greenback and saw an intraday high of 74.95 and a low of 75.17 during the day. It ultimately finished at 74.96 against the US dollar.

On Monday, the rupee was down 18 paise to close at 75.08 against the US dollar.

The dollar index, which measures the strength of the greenback against a basket of six currencies, fell 0.01% to 93.80.

On the national stock market front, the BSE Sensex finished 383.21 points or 0.63% higher to 61,350.26, while the broader NSE Nifty index rose 143 points or 0.79 % to close at 18,268.40.

Futures on Brent crude, the world’s benchmark for oil, fell 0.40% to $ 85.65 a barrel.

Foreign institutional investors were net sellers in the capital market on Monday as they dumped shares worth Rs 2,459.10 crore, exchange data showed.

(Only the title and image of this report may have been reworked by Business Standard staff; the rest of the content is automatically generated from a syndicated feed.)

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