Rupee gains 10 paise as softer crude, firm equities lift sentiment
The rupee strengthened by 10 paise to close at 94.45 against the US dollar on Thursday, supported by easing global crude oil prices , a positive domestic equity market and a marginally weaker US dollar, though foreign fund outflows capped further gains.
At the interbank foreign exchange market, the rupee opened at 94.30 against the dollar and traded in the 94.13-94.56 range before settling at 94.45, up from Wednesday's close of 94.55, PTI reported.
The currency had appreciated 21 paise in the previous session.
The forex market will remain closed on Friday on account of Muharram.
"The rupee strengthened on falling commodity prices and softening of the US dollar. Weakness in crude oil prices and positive domestic markets also favoured the rupee," said Anuj Choudhary, Research Analyst, Mirae Asset ShareKhan.
At the interbank foreign exchange market, the rupee opened at 94.30 against the dollar and traded in the 94.13-94.56 range before settling at 94.45, up from Wednesday's close of 94.55, PTI reported.
The currency had appreciated 21 paise in the previous session.
The forex market will remain closed on Friday on account of Muharram.
"The rupee strengthened on falling commodity prices and softening of the US dollar. Weakness in crude oil prices and positive domestic markets also favoured the rupee," said Anuj Choudhary, Research Analyst, Mirae Asset ShareKhan.
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