<p>Extending its gains for the third straight session, the Indian rupee added another 6 paise to settle at a near five-month high of 72.99 against the US dollar on Thursday, tracking a weaker American currency overseas and sustained foreign fund inflows.</p>.<p>At the interbank forex market, the rupee opened higher at 72.96 and touched the day's high of 72.93 against the greenback before shedding some gains towards the fag-end of the session.</p>.<p>It finally closed higher by 6 paise at 72.99 to the dollar, a level not seen since September 1, 2020.</p>.<p>On Wednesday, the rupee had settled at 73.05 against the American currency.</p>.<p>Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, slipped 0.31 per cent to 90.19.</p>.<p>On the domestic equity market front, the BSE Sensex declined 167.36 points or 0.34 per cent to end at 49,624.76; while the NSE Nifty slipped 54.35 points or 0.37 per cent at 14,590.35.</p>.<p>Foreign institutional investors remained net buyers in the capital market as they purchased shares worth Rs 2,289.05 crore on Wednesday, according to exchange data.</p>.<p>Brent crude futures, the global oil benchmark, dropped 0.87 per cent to $55.59 per barrel.</p>.<p>The rupee has gained 29 paise against the dollar over the last three trading sessions.</p>.<p>"Rupee traded in range after a gap-up opening as risky assets keep their outperformance continuing on back of fund inflow globally.</p>.<p>"Some RBI intervention is being witnessed which helped USD-INR to not fall briefly below 72.90. Risky asset performance shall keep rupee buyer interested. Broadly range can continue between 72.60-73.40," said Jateen Trivedi, Senior Research Analyst (Commodity & Currency) at LKP Securities. </p>
<p>Extending its gains for the third straight session, the Indian rupee added another 6 paise to settle at a near five-month high of 72.99 against the US dollar on Thursday, tracking a weaker American currency overseas and sustained foreign fund inflows.</p>.<p>At the interbank forex market, the rupee opened higher at 72.96 and touched the day's high of 72.93 against the greenback before shedding some gains towards the fag-end of the session.</p>.<p>It finally closed higher by 6 paise at 72.99 to the dollar, a level not seen since September 1, 2020.</p>.<p>On Wednesday, the rupee had settled at 73.05 against the American currency.</p>.<p>Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, slipped 0.31 per cent to 90.19.</p>.<p>On the domestic equity market front, the BSE Sensex declined 167.36 points or 0.34 per cent to end at 49,624.76; while the NSE Nifty slipped 54.35 points or 0.37 per cent at 14,590.35.</p>.<p>Foreign institutional investors remained net buyers in the capital market as they purchased shares worth Rs 2,289.05 crore on Wednesday, according to exchange data.</p>.<p>Brent crude futures, the global oil benchmark, dropped 0.87 per cent to $55.59 per barrel.</p>.<p>The rupee has gained 29 paise against the dollar over the last three trading sessions.</p>.<p>"Rupee traded in range after a gap-up opening as risky assets keep their outperformance continuing on back of fund inflow globally.</p>.<p>"Some RBI intervention is being witnessed which helped USD-INR to not fall briefly below 72.90. Risky asset performance shall keep rupee buyer interested. Broadly range can continue between 72.60-73.40," said Jateen Trivedi, Senior Research Analyst (Commodity & Currency) at LKP Securities. </p>