Rupee rises 14-ps to settle at 75.76/USD, loss of 3% in FY22
Rupee rises 14-ps to settle at 75.76/USD, loss of 3% in FY22

On Thursday, the rupee rose 14 paise to 75.76 (provisional) against the US dollar, tracking strong Asian rivals and a drop in global crude oil prices. The domestic unit, on the other hand, depreciated by 264 paise, or 3.61 percent, versus the American dollar in the fiscal year 2021-22.

The local currency opened at 75.67 agaisnt the US dollar on the interbank forex market, moving betwwen an intraday high of 75.66 and a low of 75.83. The currency eventually finished at 75.76 rupees, up 14 paise from its previous closing. The rupee fell 17 paise versus the dollar on Wednesday, closing at 75.90.

The dollar index, which measures the strength of the greenback against a basket of six currencies, increased 0.40 percent to 98.18. The global oil benchmark, Brent crude futures, slumped 5.59 percent to $107.11 a barrel.

The BSE Sensex closed the day 115.48 points, or 0.20 percent, lower at 58,568.51, while the broader NSE Nifty slid 33.50 points, or 0.19 percent, to 17,464.75. As per  stock exchange data, foreign institutional investors (FIIs) were net purchasers in the capital market on Wednesday, purchasing shares worth Rs.1,357.47 crore.

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