Rupee surges by 19 paise to 75.97 against U.S. dollar

The rupee continued its winning streak for a fourth straight session, appreciating 19 paise to 75.97 against the US dollar on Tuesday, as risk appetite improved in the face of broader dollar weakness and a robust domestic trend. shares.

However, continued outflows of foreign funds limited gains in the domestic unit, forex traders said.

In the interbank forex market, the local unit opened higher at 75.97, but lost some of its gains to hit the day’s low of 76.15. It witnessed an intra-day high of 75.90.

The rupee traded at 75.97 at 1600 hrs, registering a 19 paise increase from its previous close. In the previous session, the rupee had risen to 76.16 against the US dollar.

Meanwhile, the dollar index, which measures the dollar’s strength against a basket of six currencies, fell sharply 0.34% to 98.71.

Futures on Brent oil, the global oil benchmark, were up 0.60% to $113.15 a barrel.

In the domestic stock market, the BSE Sensex ended 350 points or 0.61% higher at 57,943.65, while the broader NSE Nifty rose 103.30 points or 0.60% to 17,325.30.

Foreign institutional investors remained net sellers in the capital market on Monday as they sold shares worth ₹801.41 crore, according to stock market data.

According to the latest government debt management report, the total liabilities of the government rose to 128.41 lakh crore in the December quarter from ₹ 125.71 lakh crore in the three months ending September 2021.

The increase reflects a quarter-over-quarter increase of 2.15% in October-December 2021-22.

The report released Monday by the Treasury Department said government debt made up 91.60% of total outstanding debt in the December quarter, compared to 91.15% at the end of September.

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