Rupee rises 4 paise to end at 74.24 against U.S. dollar
The Hindu
Brent crude futures, the global oil benchmark, fell 0.24% to $80.09 per barrel.
The rupee erased most of its initial gains to settle 4 paise higher at 74.24 (provisional) against the U.S. dollar on Thursday, as some pullback in crude oil prices and a weak greenback in the overseas market supported the local unit.
However, a massive sell-off in the domestic equity market restricted the rupee’s gain, forex dealers said.
At the interbank forex market, the local unit opened strong at 74.10 against the greenback and witnessed an intra-day high of 74.01 and a low of 74.26 during the day's trade.
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The Rupee appreciated by 19 paise to close at 89.96 against the U.S. dollar amid weak dollar index support.