Rupee rises 6 paise to close at 79.86 against U.S. dollar
The Hindu
At the interbank Forex market, the local unit opened at 79.87 against the greenback
The rupee appreciated by 6 paise to close at 79.86 (provisional) against the U.S. dollar on August 26, supported by foreign fund inflows and a positive trend in domestic equities.
However, higher crude prices in the international markets restricted the rupee's gain, Forex dealers said.
At the interbank Forex market, the local unit opened at 79.87 against the greenback. It witnessed an intra-day high of 79.81 and a low of 79.94 against the American currency during the session.
It finally ended at 79.86 against the U.S. dollar, up 6 paise from its previous close of 79.92.
The dollar index, which measures the greenback's strength against a basket of six currencies, slipped 0.13% to 108.33.
Brent crude futures, the global oil benchmark, rose 1.42% to $100.75 per barrel.
The rupee appreciated following positive domestic equity markets and FII inflows. However, the strong U.S. Dollar and higher crude oil prices capped sharp gains, said Anuj Choudhary - Research Analyst at Sharekhan by BNP Paribas.
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