Indian Rupee advances 9 paise to settle at 74.29 against US dollar

The Indian rupee advanced 9 paise and settled for the day provisionally at 74.29 against the greenback on Thursday, propelled by a strong trend in domestic equities and weak American currency. At the interbank forex market, the rupee opened at 74.32 against the dollar and witnessed an intra-day high of 74.22 and a low of 74.34, and finally ended at 74.29 against the USD, registering a rise of 9 paise over its previous close. On Wednesday, the rupee had settled at 74.38 against the greenback.  Meanwhile, the dollar index, which gauges the American currency strength against a basket of six currencies, dipped 0.30 percent to 92.04.

On the Indian equity market front, the BSE Sensex settled 209.36 points or 0.40 percent higher at 52,653.07, while the NSE Nifty added 69.05 points or 0.44 percent to 15,778.45.

Brent crude futures, the global oil benchmark, rose 0.39 percent to USD75.03 per barrel. Meanwhile, foreign portfolio investors  (FPI)were net sellers in the capital market on Wednesday as they offloaded shares worth Rs 2,274.77 crore, as per stock exchange data.

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