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| Rupee gains to close below 76 per Dollar, up for fourth straight session | | |  The rupee strengthened and closed below 76 per dollar on Tuesday, marking gains for the fourth straight session, tracking the broad rally in equities and a general rush into risk assets.
That was despite a rebound in crude oil prices. Indeed, benchmark Brent crude oil prices were last up about 1.7 per cent to trade around $114 a barrel after falling to as low as $109.97 a barrel earlier in the day. That comes a day after oil prices fell around 7 per cent on Monday.
The rupee was last quoted at 75.99 by Reuters, while the PTI said the currency registered a rise of 19 paise over its previous close of 76.16 against the US dollar, to close tentatively at 75.97.
At the interbank forex market, the PTI reported that the rupee opened higher at 75.97 but lost some of the gains to touch the day's low of 76.15. But the currency rose to an intra-day high of 75.90.
Domestic bourses finished higher for the second straight session amid firm global cues, but for the energy-sensitive rupee, the risks remain from advancing crude prices and sustained capital outflows.
Indeed, foreign institutional investors (FIIs) remained net sellers in the Indian capital market on Monday as they sold shares worth Rs 801.41 crore.
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STOCK UPDATE |
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