Rupee ends the day unchanged against dollar at 78.94

On Monday, the Indian rupee recovered some of its earlier losses and finished level against the US dollar at 78.94.

At the interbank foreign exchange market, the local currency started the day at 78.97 against the US dollar and dropped as low as 79.06 during the day. The closing price, which remained constant from the previous close, was 78.94.

The BSE Sensex closed 326.84 points or 0.62 percent higher at 53,234.77 on the domestic equities market, while the NSE Nifty gained 83.30 points or 0.53 percent to 15,835.35.

At 104.99, the dollar index, which gauges the strength of the dollar against a basket of six different currencies, was down 0.13 percent.  The benchmark for world oil, Brent crude futures, dropped 0.26 percent USD 111.34 a barrel.

According to exchange data, foreign institutional investors continued to be net sellers on Friday in the capital market, selling shares worth 2,324.74 crore.

The Reserve Bank of India (RBI) reported on Friday that the country's foreign exchange reserves climbed by USD2.734 billion to USD 593.323 billion for the week ended June 24 as a result of a rise in core currency assets.

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