Rupee gains 7 paise to trade near 5-month high of 72.98 vs USD

On the domestic equity market front, the BSE Sensex was trading 277.80 points or 0.56 per cent higher at 50,069.92.

Mumbai: Advancing its gains for the third straight session, the rupee scaled a near five-month high of 72.98 against the US dollar on Thursday in line with the buoyant equity market and sustained foreign fund inflows.

At the interbank forex market, the rupee was 7 paise higher to trade at a level not seen since September 1, 2020.

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On Wednesday, the rupee had settled at 73.05 against the American currency.

Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, slipped 0.18 per cent to 90.31.

On the domestic equity market front, the BSE Sensex was trading 277.80 points or 0.56 per cent higher at 50,069.92; and the NSE Nifty was up 84.35 points or 0.58 per cent at 14,729.05.

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.

Brent crude futures, the global oil benchmark, rose 0.36 per cent to USD 55.89 per barrel.