Indian Rupee closes 6 paise higher at 74.58 versus US dollar

The rupee on Monday pared some of its starting gains and closed 6 paise higher provisionally at 74.58 against the U.S. dollar, ahead of the release of key inflation data.

At the interbank forex market, the rupee opened at 74.49, and touched an intra-day high of 74.40 and bottomed at 74.59 and finally finished at 74.58, higher by 6 paise over its last close. On Friday, the rupee had closed at 74.64 against the U.S. dollar.

Meanwhile, Brent crude futures, the global oil benchmark, fell 1.48 percent to $74.43 per barrel. Also, the dollar index, which gauges the Dollar’s strength against a basket of six currencies, rose 0.16 percent to 92.28.

On the Indian equity market front, the BSE Sensex closed 13.50 points or 0.03 percent lower at 52,372.69, while the broader NSE Nifty inched 2.80 points higher or 0.02 percent to 15,692.60.

Foreign institutional investors were net sellers in the capital market on Friday as they offloaded shares worth Rs 1,124.65 crore, as per exchange data.

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