Rupee Gains For Second Straight Day, Edges Higher To 73.51 Against Dollar

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Rupee Gains For Second Straight Day, Edges Higher To 73.51 Against Dollar

Gaining for the second straight session, the rupee edged higher by 27 paise against the US dollar on Friday, May 6, to settle at 73.51 (provisional), tracking positive domestic equities and a weaker American currency. At the interbank foreign exchange market, the local unit opened at 73.62 and witnessed an intra day high of 73.50. It registered a low of 73.76. In an early trade session, the domestic unit rose 16 paise to 73.60 against the greenback. The domestic currency closed at 73.51, recording a gain of 27 paise over its previous close.

On Thursday, the local unit settled at 73.78 against the dollar. Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, slipped 0.19 per cent to 90.78.
According to Kaynat Chainwala – Fundamental Research Analyst Currencies, Anand Rathi Shares and 

On the domestic equity market front, the BSE Sensex ended 256.71 points or 0.52 per cent higher at 49,206.47, while the broader NSE Nifty climbed 98.35 points or 0.67 per cent to 14,823.15.

According to exchange data, the foreign institutional investors were net buyers in the capital market on May 6 as they purchased shares worth Rs 1,222.58 crore. Brent crude futures, the global oil benchmark, fell 0.16 per cent to $ 67.98 per barrel.

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