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Rupee settles 52 paise higher at 75.66 against US dollar

The Indian rupee surged 52 paise to close at 75.66 (provisional) against the US dollar on Wednesday, tracking positive domestic equities and a weak American currency in the overseas market.

This is the third consecutive day of gain for the rupee, during which it has appreciated by 80 paise.

At the interbank foreign exchange, the rupee opened at 75.94. During the session it touched an intra-day high of 75.60 and a low of 75.96.

The domestic unit finally settled at 75.66, registering a rise of 52 paise over its previous close.

On Tuesday, the local unit had settled at 76.18 against the US dollar.

Forex traders said positive start of domestic stocks supported the local unit. Besides, market sentiments improved as more countries are announcing gradual lifting of lockdowns that have been imposed to contain coronavirus infection.

Meanwhile, domestic stock exchanges were trading on a positive note with benchmark indices Sensex trading 519.56 points higher at 32,634.08 and Nifty up by 150.70 points at 9,531.60.

The dollar index, which gauges the greenback”s strength against a basket of six currencies, was trading 0.28 per cent down at 99.58.

Brent crude futures rose 1.96 per cent to USD 20.86 per barrel. PTI