The dollar index, which gauges the greenback’s strength against a basket of six currencies, fell 0.20 per cent to 104.12.
During the day, the domestic unit clocked an intra-day high of 82.36 and a low of 82.54.
The rupee on Thursday strengthened by 33 paise to close at 82.42 (provisional) against the US dollar as positive macroeconomic data boosted investor sentiment.
At the interbank forex market, the local unit opened at 82.54 against the US dollar and closed at 82.42 (provisional), higher by 33 paise over its previous close amid foreign fund inflows.
During the day, the domestic unit clocked an intra-day high of 82.36 and a low of 82.54.
On Wednesday, the rupee had closed at 82.75 against the American currency.
The dollar index, which gauges the greenback’s strength against a basket of six currencies, fell 0.20 per cent to 104.12.
Global oil benchmark Brent crude futures rose 0.17 per cent to $72.72 a barrel.
“Indian rupee strengthened amid stellar economic data and foreign fund inflows. It has seen its best one-day gain in nearly two months following dollar inflows and fall in commodity prices, said Dilip Parmar, Research Analyst, HDFC Securities.
Foreign institutions bought domestic shares worth $4.5 billion in May, the most since November.
Parmar said spot USDINR fell on Thursday, indicating a continuation of the technical bullish trend; Looking ahead, traders will eye Friday’s US payrolls data ahead of the Federal Reserve’s June meeting.
On the domestic equity market front, the 30-share BSE Sensex declined 193.70 points, or 0.31 per cent, to end at 62,428.54 and the broader NSE Nifty declined 46.65 points, or 0.25 per cent, to 18,487.75.
Foreign institutional investors (FIIs) were net buyers in the capital market on Wednesday as they bought shares worth Rs 3,405.90 crore, according to exchange data.
On the domestic macroeconomic front, manufacturing activity in India picked up further and reached a 31-month high in May, supported by a strong growth in new orders and favorable market conditions.
Meanwhile, the Centre’s fiscal deficit has been narrowed to 6.4 per cent of GDP in 2022-23 from 6.71 per cent in FY22.
Unveiling the central government’s revenue-expenditure figures for 2022-23, the Controller General of Accounts (CGA) said the fiscal deficit in absolute terms stood at Rs 17,33,131 crore (provisional), slightly less than the amount projected in the Revised Estimates Is. (re) in the budget.
Also, according to official data released on Wednesday, India’s economy grew by 6.1 per cent in the March quarter of 2022-23, taking the annual growth rate to 7.2 per cent due to better performance by agriculture, manufacturing, mining and construction sectors.
(This story has not been edited by News18 staff and is published from a syndicated news agency feed – PTI,
