Rupee settles 3 paise up at 74.26/USD in first trading session of 2022

Following bullish domestic equities, the Indian rupee reduced its earlier losses and ended on a positive note in the first trading session of 2022 on Monday.

The local currency opened at 74.35 against the US dollar on the interbank forex market, with an intra-day high of 74.25 and a low of 74.47.  The local currency eventually finished at 74.26 against the US dollar, up 3 paise from the previous closing. On the last trading day of 2021, the local unit had settled at 74.29.

The BSE Sensex closed the day 929.40 points higher, or 1.60 percent, at 59,183.22, while the broader NSE Nifty climbed 271.65 points, or 1.57 percent, to 17,625.70.

Meanwhile, the dollar index rose 0.11 percent to 95.77, which gauges the strength of the greenback against a basket of six currencies. The global oil benchmark, Brent crude futures, climbed 1.25 percent to USD78.75 per barrel.  According to exchange data, foreign institutional investors were net purchasers in the capital market on Friday, purchasing shares worth Rs.575.39 crore.

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