Rupee Rises 7 Paise To Trade Close To Five-Month High of 72.98 vs Dollar

FIIs were net buyers in the capital market as they purchased shares worth Rs 2,289.05 crore on Wednesday.

Advancing its gains for the third straight session, the rupee scaled a near five-month high of 72.98 against the US dollar on Thursday in line with the buoyant equity market and sustained foreign fund inflows.

At the interbank forex market, the rupee was 7 paise higher to trade at a level not seen since September 1, 2020. On Wednesday, the rupee had settled at 73.05 against the American currency. Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, slipped 0.18 per cent to 90.31. On the domestic equity market front, the BSE Sensex was trading 277.80 points or 0.56 per cent higher at 50,069.92; and the NSE Nifty was up 84.35 points or 0.58 per cent at 14,729.05.

Foreign institutional investors (FIIs) remained net buyers in the capital market as they purchased shares worth Rs 2,289.05 crore on Wednesday, according to exchange data.

Brent crude futures, the global oil benchmark, rose 0.36 per cent to $55.89 per barrel.


The domestic currency is likely to strengthen 1.3 per cent and average 73.5 against the US dollar in the financial year 2022-23 compared with an average level of 74.4 in the financial year 2021-22. The domestic currency may strengthen marginally against the US dollar next year.

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