Business

Rupee settles flat at 72.96 against U.S. dollar


The dollar index, which gauges the greenback’s strength against a basket of six currencies, advanced 0.28% to 91.42

The Indian rupee ended unchanged at 72.96 (provisional) against the U.S. dollar on Thursday even as the domestic equity markets scaled fresh highs.

At the interbank forex market, the local unit opened at 72.92 against the greenback and witnessed an intra-day high of 72.90 and a low of 72.96.

It finally ended at 72.96 against the American currency, unchanged from its previous close.

The dollar index, which gauges the greenback’s strength against a basket of six currencies, advanced 0.28% to 91.42.

The rupee is trading in a narrow range as market participants are looking ahead to cues from the Monetary Policy Committee decision due this week and the outlook on the economy by the central bank, analysts said.

On the domestic equity market front, the BSE Sensex ended 358.54 points or 0.71% higher at 50,614.29, while the broader NSE Nifty climbed 105.70 points or 0.71% to 14,895.65 .

Foreign institutional investors were net buyers in the capital market as they purchased shares worth Rs 2,520.92 crore on Wednesday, according to exchange data.

Brent crude futures, the global oil benchmark, rose 0.55% to $58.78 per barrel.

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