Rupee vs Dollar: Rupee rises 19 paise to 75.38 amid sustained fund inflows, weak dollar

Indian rupee, the local currency benchmark opened 19 paise higher at 75.38 per US dollar on Friday as strong domestic equity and foreign fund inflows boosted investor sentiments.

Forex traders said weak American currency and upbeat risk appetite also supported the rupee at the interbank forex market.

The rupee was trading at 75.38, up 19 paise over its last close of 75.57 against the US dollar on Thursday.

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On the equities front, the 30-share BSE benchmark Sensex was quoting 87.70 points higher at 34,068.40 and broader Nifty rose 42 points to 10,071.10.

Foreign institutional investors were net buyers in the capital market, as they bought shares worth Rs 2,905.04 crore on Thursday, according to provisional exchange data.

Brent crude futures, the global oil benchmark, rose 0.55 per cent to USD 40.21 per barrel.

The dollar index, which gauges the greenback's strength against a basket of six currencies, fell 0.01 per cent to 96.67.

Meanwhile, the number of cases around the world linked to the disease has crossed 66.35 lakh and the death toll has topped 3.91 lakh.

In India, the death toll due to COVID-19 rose to 6,348 and the number of infections rose to 2,26,770, according to the health ministry.

(Edited with PTI inputs)

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