Mumbai: The rupee continued to rise for the fourth consecutive trading session at the interbank foreign exchange market on Tuesday due to improving risk appetite of investors due to weakening of the dollar and a firm trend in the domestic equity market. It gained 19 paise to 75.97 (tentative) per dollar.
Traders said, however, continued outflow of foreign capital restricted the rupee’s gains. In the interbank foreign exchange market, the rupee opened stronger at 76.97 against the US dollar, but later this momentum did not sustain and the rupee touched a day’s low of Rs 76.15 per dollar. The rupee touched a day’s high of Rs 75.90 in the day’s trade. The rupee was trading higher by 19 paise at Rs 75.97 per dollar against the dollar at 4 pm.
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In the previous session, the rupee had closed at 76.16 against the US currency. Meanwhile, the dollar index, reflecting the US dollar’s position against the six major currencies, declined 0.34 per cent to 98.71. Global oil benchmark Brent crude futures rose 0.60 per cent to $113.15 a barrel.
The 30-share Sensex of BSE closed at 57,943.65, up 350 points. According to provisional stock market data, foreign institutional investors were net sellers in the capital market. He sold shares worth Rs 801.41 crore on Monday. (agency)