Rupee gains 27 paise to close at 81.84 against U.S. dollar

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The rupee appreciated 27 paise to close at 81.84 (provisional) against the U.S. dollar on Thursday, tracking the broad weakness of the American currency in the overseas market.

At the interbank foreign exchange market, the local unit opened at 81.99 against the U.S. currency and finally closed at 81.84 (provisional) against the greenback, registering a gain of 27 paise over its previous close.

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

On Wednesday, the rupee closed at 82.11 against the U.S. currency.

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

Global oil benchmark Brent crude futures declined 0.27% to $87.09 per barrel.

On the domestic equity market front, the 30-share BSE Sensex advanced 38.23 points or 0.06% to end at 60,431.00 and the broader NSE Nifty gained 15.60 points or 0.09% to 17,828.

Foreign Institutional Investors (FIIs) were net buyers in the capital market on Wednesday as they purchased shares worth ₹1,907.95 crore, according to exchange data.

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

India’s industrial production growth rose marginally to 5.6% in February from 5.5%in January 2023, mainly due to good performance of the power, mining and manufacturing sectors, according to official data released on Wednesday.