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Rupee settles 6 paise higher at 73.49 against US dollar

The rupee appreciated by 6 paise to close at 73.49 (provisional) against the US dollar on Monday, tracking weakness in the American currency and positive domestic equities.

Rupee higher at 72.65 against weak dollar
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Rupee higher at 72.65 against weak dollar

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Mumbai: The rupee appreciated by 6 paise to close at 73.49 (provisional) against the US dollar on Monday, tracking weakness in the American currency and positive domestic equities.

The sustained foreign fund inflows also supported the rupee, traders said. At the interbank forex market, the domestic unit opened at 73.52 against the US dollar and witnessed an intra-day high of 73.47 and a low of 73.61.

The local unit finally settled at 73.49 against the American currency, registering a rise of 6 paise over its previous close. On Thursday, the rupee had settled at 73.55 against the US dollar. Forex and equity markets were closed on Friday for Christmas.

Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, slipped 0.25 per cent to 89.99. On the domestic equity market front, BSE Sensex ended 380.21 points or 0.81 per cent higher at 47,353.75, while the broader NSE Nifty jumped 123.95 points or 0.9 per cent to 13,873.20.

"Indian Rupee appreciated on weakness in Dollar and surge in stock markets. Market sentiments improved as US President Donald Trump signed $2.3 trillion coronavirus relief aid and spending package and as the UK and European Union secured trade agreement," Saif Mukadam, Research Analyst, Sharekhan by BNP Paribas, said.

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