Rupee closes near day's high at 73.24 per dollar
Indian rupee
The Rupee on Thursday ended near the day's high level at 73.24 per dollar, amid buying seen in the domestic equity market.
The Indian rupee opened at 73.31 per dollar against the previous close of 73.33 and remained in the range of 73.21-73.35.
“While the natural tendency for the rupee is to strengthen in the backdrop of a weak US dollar globally, nationalised banks likely on behalf of the Reserve Bank buy the dips to around 73.10 aggressively,” said Abhishek Goenka, Founder and CEO, IFA Global.
Goenka further added, “we are likely to see another quiet, range-bound session ahead of the MPC decision on Friday”.
The newly-constituted MPC of the Reserve Bank began its three-day deliberations on Wednesday. The decision of the rate-setting panel will be announced on October 9.
Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, fell 0.05 per cent to 93.58.
On the domestic equity market front, the 30-share BSE benchmark Sensex was trading 450.46 points higher at 40,329.41, and the broader NSE Nifty rose 124.05 points to 11,862.90.
(With inputs from agencies)