Rupee spurts 31 paise to a month high against U.S. dollar on stocks rally
The Hindu
On Thursday, the rupee settled lower at 82.25
The rupee rebounded by 34 paise to close at a month high against the U.S. dollar on Friday amid domestic equity indices surging to record high levels and losses in crude oil prices.
FII inflows into local equities and the greenback trading near one-month low levels also bolstered the rupee sentiment, analysts said.
At the interbank foreign exchange, the domestic unit opened higher at 81.97 and moved in a range of 82.02 to 81.86 in the day trade.
The unit settled at 81.94 against the U.S. dollar, reflecting gains of 31 paise over the previous close.
On Thursday, the rupee settled lower at 82.25 against the dollar due to a strong greenback overseas and a negative trend in domestic equities.
Crude oil prices were trading lower on Friday with the benchmark Brent crude slipping 0.58% to $75.23 per barrel.
The dollar index, which gauges the greenback's strength against a basket of six currencies, was marginally up 0.08% at 102.20.
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