The rupee gained for the second straight day and closed 12 paise greater at 73.05 (provisional) in opposition to the US greenback on Wednesday, supported by a rally in home equities and a weak American foreign money.
At the interbank foreign exchange market, the rupee opened at 73.11, and hit an intraday excessive of 73.05 and a low of 73.14.
It lastly completed at 73.05, greater by 12 paise over its final shut.
On Tuesday, the rupee had settled at 73.17 in opposition to the US foreign money.
Meanwhile, the greenback index, which gauges the buck’s energy in opposition to a basket of six currencies, slipped 0.07 per cent to 90.43.
On the home fairness market entrance, the BSE Sensex ended 393.83 factors or 0.80 per cent greater at 49,792.12, whereas the broader NSE Nifty superior 123.55 factors or 0.85 per cent to 14,644.70.
Foreign institutional buyers had been web consumers within the capital market as they bought shares value Rs 257.55 crore on Tuesday, in response to provisional change information.
Brent crude futures, the worldwide oil benchmark, rose 0.70 per cent to $56.29 per barrel.
The rupee is prone to strengthen 1.three per cent and common 73.5 in opposition to the US greenback within the monetary 12 months 2022-23 in contrast with a median degree of 74.four within the monetary 12 months 2021-22. The home foreign money could strengthen marginally in opposition to the US greenback subsequent 12 months.