The rupee strengthened by 7 paise against the dollar.

According to the stock exchange data, foreign institutional investors bought shares worth Rs 382.30 crore on Thursday. Due to which the rupee strengthened to some extent.

Mumbai. The rupee continued to improve on the domestic stock market and it recovered by 7 paise to close at 73.24 against the US currency, recovering from its day’s lowest level in the foreign exchange market on Friday. The rupee opened in a weak trend in the interbank foreign exchange market and touched the day’s low of Rs 73.45 during the session. But later the initial loss of the rupee disappeared and finally the rupee closed at 73.24 rupees per dollar.

For most part of the session, there was constant pressure on the rupee. The rupee remained under pressure for most part of the session due to the strengthening of the dollar against the other major currencies of the world and rising prices of crude oil and some gains were made on its gains. The rupee had lost 20 paise to close at 73.31 per dollar on Thursday. Meanwhile, the dollar index showing the dollar’s trend rose 0.12 percent to 89.93 against the six currencies.

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According to stock exchange data, foreign institutional investors bought shares worth Rs 382.30 crore on Thursday. Brent crude oil futures, considered the standard of crude in the global market, was up 0.31 percent at $ 54.69 a barrel. The Bombay Stock Exchange gained 689.19 points to close at a record 48,782.51, based on thirty shares.