Rupee gains 20 paise to close at 76.42 against U.S. dollar
The Hindu
The rupee gained as risk appetite rebounded, says expert
The rupee appreciated by 20 paise to close at 76.42 (provisional) against the U.S. dollar on Thursday, supported by positive domestic equities and trends in state election results.
At the interbank forex market, the local unit opened at 76.27 against the greenback and witnessed an intra-day high of 76.07 and a low of 76.46.
The rupee finally finished at 76.42, registering a rise of 20 paise over its previous close.
On Wednesday, the rupee had appreciated 38 paise to close at 76.62 against the U.S. dollar following a retreat in crude oil prices and rebound in domestic equities.
Counting of votes was underway on Thursday in five States where assembly polls were held recently -- Uttarakhand, Uttar Pradesh, Punjab, Goa and Manipur.
The BJP is headed for a second straight win in politically crucial Uttar Pradesh and dominated the trends chart in three other states, while the Aam Aadmi Party readied for a landslide win in Punjab.
The rupee gained as risk appetite rebounded, while haven currencies slumped, said Dilip Parmar, Research Analyst, HDFC Securities.
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