Indian rupee gained about 30 paise against the greenback on Thursday on the back of short covering after the local currency lost about 120 paise in the last three sessions.
At 09:10 AM, the rupee was trading at 71.68 a dollar, up 34 paise from its Wednesday’s close of 72.02. The home currency opened at 71.70 and touched a high and a low of 71.67 and 71.72 a dollar, respectively.
The rupee declined by 16 paise to close at 72.01 against the US dollar Wednesday but the sentiment improved today on the back of positive global cues and gains in the domestic equity markets.
The BSE Sensex advanced 200 points, or 0.6 percent, to 35,976, while the broader NSE Nifty gained 70 points, or 0.65 percent, to 10,807 in the opening trade.
Forex traders said the rupee came under pressure in the last three sessions following strengthening of the dollar against major global currencies overseas and rise in crude oil prices. However, a significant surge in domestic equities capped the fall.
In debt markets, the yields on the 10-year government bonds fell 0.24 percent to 7.40 percent after closing at 7.41 percent on Wednesday. Bond yields and prices move in opposite directions.
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