Re recovers 6 paise to 82.74/USD
l FII inflows into the capital market and firm equity markets supported the local unit
image for illustrative purpose
Mumbai: The rupee recovered six paise to settle at 82.74 (provisional) against the US currency on Wednesday following weakness in the US dollar in global markets. FII inflows into the capital market and firm equity markets supported the local unit while gains in crude oil prices restricted the rupee upside, according to analysts. At the interbank foreign exchange, the domestic unit opened higher at 82.67 amid overnight losses in the US dollar against major global rivals. It moved between a high of 82.66 and a low of 82.81 in intra-day trade. The rupee finally closed at 82.74 against the dollar, a gain of 6 paise compared to the closing level of 82.80 on Tuesday. Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, was trading 0.03 per cent lower at 103.50 after US data suggested that labour market was cooling, a scenario that could provide support for the US Federal Reserve in eventual easing interest rates.
