Rupee rises 25 paise against dollar to settle the day at 75.28
Rupee rises 25 paise against dollar to settle the day at 75.28
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The Indian rupee maintained its winning streak on Tuesday, increasing 25 paise to close at 75.28 against the US dollar, as the US currency and crude oil prices fell from recent highs.

Even while domestic equities ended the day on a sour note, forex dealers noted the dollar's weakness against its key rivals bolstered investor mood.  The local unit opened at 75.54 against the US dollar on the interbank forex market, hit an intra-day high of 75.28, and finally concluded at 75.28, up 25 paise from its previous close.

The rupee began the fiscal year 2022-23 on a positive note on Monday, surging 21 paise to a one-month high of 75.53. The dollar index, which measures the strength of the greenback against a basket of six currencies, was down 0.09 percent at 98.90.

On the domestic front, the 30-share BSE Sensex down 435.24 points, or 0.72 percent, to 60,176.50, while the wider NSE Nifty fell 96.00 points, or 0.53 percent, to 17,957.40.

The global oil benchmark, Brent crude futures, climbed 1.04 percent to USD 108.65 per barrel. According to stock exchange data, foreign institutional investors remained net purchasers in the capital market on Monday, purchasing shares worth Rs.1,152.21 crore.

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