Rupee gains 11 paise to close at 75.26 against U.S. dollar

The rupee gained 11 paise to close at 75.26 (provisional) against the U.S. dollar on Thursday as heavy buying in domestic equities and weakness in the greenback strengthened investor sentiment.

Besides, fresh foreign capital inflows also helped the domestic unit to post gains for a second straight day, forex traders said.

However, surging crude prices in the international market restricted the rupee’s gain, they added.

At the interbank forex market, the local unit opened strong at 75.27 against the greenback, and moved in a range of 75.20 to 75.37 in the day trade. It finally ended at 75.26 against the American currency, registering a rise of 11 paise over its previous close.

On Wednesday, the rupee had settled at 75.37 against the U.S. dollar.

On the domestic equity market front, the BSE Sensex ended 568.90 points or 0.94% higher at 61,305.95, while the broader NSE Nifty surged 176.80 points or 0.97% to 18,338.55.

Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, dipped 0.28% to 93.81.

Brent crude futures, the global oil benchmark, increased 1.30% to $84.26 per barrel.

Foreign institutional investors emerged as net buyers in the capital market on Wednesday, as they purchased shares worth ₹937.31 crore, as per exchange data.