Rupee gains 5 paise to end the day at 78.98 against dollar

The Indian rupee recovered from its record low to end the day Thursday 5 paise higher at 78 against the US dollar on Thursday.

The local currency's opening rate on the interbank forex market was 78.92 vs the US dollar. It reached an intraday top of 78.90 and a low of 78.99. It eventually reached 78.98, up 5 paise from the previous close.  On Wednesday, the rupee crossed the psychologically crucial 79-per-dollar threshold for the first time ever. This month, it has also touched a number of lifetime lows.

On the Indian stock market front, the BSE Sensex fell 8.03 points, or 0.02 percent, to close at 53,018.94 on the domestic equities market, while the larger NSE Nifty down 18.85 points, or 0.12 percent, to close at 15,780.25 on the same front.

The dollar index, which gauges the Dollar's strength against a basket of 6 currencies, was up 0.06 percent at 105.16.

Brent crude futures, the global oil benchmark, declined 0.17 percent to USD 116.06 per barrel.
According to exchange data, foreign institutional investors continued to be net sellers on the capital market on Wednesday, selling shares worth 851.06 crores.

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