Rupee finishes flat against the dollar at 78.34: Despite a surge in the domestic equities markets, the Indian rupee lost 1 paisa to end the day at a new all-time low of 78.34 to the US dollar. The domestic unit is under pressure from high crude oil prices on the global market and continuous outflows of foreign cash.
At the interbank foreign exchange market, the local currency rose strongly to 78.24 versus the dollar before giving up all of its early gains to close at 78.34. It had a high of 78.4 during the day and a low of 78.36.
The benchmark for world oil, Brent crude futures, increased 0.32 percent to USD113.48 a barrel.
On the Indian equity market front, the BSE Sensex closed 433.30 points or 0.82 percent higher at 53,161.28 on the domestic equities market, while the larger NSE Nifty gained 132.80 points or 0.85 percent to 15,832.05. The dollar index, which gauges how strong the dollar is relative to a basket of six different currencies, decreased 0.21 percent to 103.97.
According to exchange data, foreign institutional investors continued to be net sellers on Friday in the capital market, selling shares worth Rs2,353.77 crore.