Rupee gains 32 paise to close at 82.27 against US dollar

Mumbai, Mar 23 (PTI) The rupee gained 32 paise to close at 82.27 (provisional) against the US dollar on Thursday, tracking the weakness of the American currency in the overseas market.

Traders said the weak US Dollar and decline in US Treasury yields on the back of dovish Federal Open Market Committee (FOMC) boosted investor sentiments.

The 25 basis points interest rate hike by the US Federal Reserve was on the expected lines, and the declining crude oil prices boosted the overall sentiments, they added.

At the interbank foreign exchange, the domestic unit opened strong at 82.38 against the dollar and gained further ground and finally settled at 82.27 (provisional) against the American currency, registering a gain of 32 paise against its previous close.

In intra-day trade, the rupee touched a high of 82.08 and hit the lowest level of 82.41 against the greenback.

On Tuesday, the rupee settled at 82.59 against the US dollar.

The foreign exchange market was closed on Wednesday on account of Gudi Padwa.

Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, was trading 0.03 per cent lower at 102.31.

Global oil benchmark Brent crude futures declined by 0.93 per cent to USD 75.98 per barrel.

The 30-share BSE Sensex closed 289.31 points or 0.50 per cent lower at 57,925.28 points while the broader NSE Nifty fell 75.00 points or 0.44 per cent to 17,076.90 points.

Foreign Institutional Investors (FIIs) turned net buyers in the domestic capital market on Wednesday as they purchased shares worth Rs 61.72 crore, according to exchange data.