The Rs pared some of its early gains to settle marginally up by 3 paise at 74.99 against the US $ on Thursday tracking weakness in the greenback and gains in the domestic equity market.
Forex traders said positive domestic equities and weak US currency supported the local unit, while foreign fund outflows and concerns over rising COVID-19 cases weighed on investor sentiment.The Rs opened at 74.94 against the US $ and touched a high of 74.91 to the dollar in day trade.
The local unit finally settled at 74.99 against the US $, up 3 paise over its previous close of 75.02. Indian benchmark stock indices rose to four-month highs on smart gains in finance and banking counters amid buoyancy in global markets. The 30-share BSE Sensex settled 408.68 points, or 1.12 per cent, higher at 36,737.69 while NSE Nifty jumped 107.70 points, or 1.01 per cent, to 10,813.45. Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, fell 0.02 per cent to 96.40.
