Rupee declines 19 paise at 74.74 against U.S dollar, Stock market gains

The Indian rupee slipped for the fourth consecutive day to provisionally end 19 paise lower at 74.74  against the U.S. Dollar on Friday as a strong dollar and expectations of further spike in crude oil prices weighed on investor sentiment.

At the interbank foreign exchange market, the rupee opened on a negative trajactory at 74.71 per dollar against its previous close of 74.55. It swung in the range of 74.65 to 74.87 per dollar during the day before ending at 74.74. The domestic currency has lost 55 paise in the four trading sessions to Friday.

Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, rose 0.05 percent to 92.63. 

Brent crude futures, the global oil benchmark, fell 0.14 percent to USD 75.73 per barrel. 

Foreign institutional investors were net sellers in the capital market on Thursday as they offloaded shares worth Rs 1,245.29 crore, as per exchange data.

On the domestic equity market front, the BSE Sensex ended 166 points or 0.32 percent higher at 52,484.67, while the broader NSE Nifty gained 42.20 points or 0.27 percent to close at 15,722.20.

 

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