The rupee reversed early losses and gained 27 paise against the US dollar on Tuesday, July 20, to settle higher at 74.61 (provisional) tracking weaker American currency. At the interbank foreign exchange market, the local unit witnessed heavy volatility today as it opened weaker at 74.93 against the dollar and witnessed an intra day high of 74.55. It witnessed a low of 74.95 and during the session. In an early trade session, the domestic currency declined six paise to 74.94 against the greenback.
The domestic unit closed at 74.61 against the American currency, registering a rise of 27 paise over its previous close. On Monday, July 19, the local unit settled at 74.88. Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, slipped 0.05 per cent to 92.84.
On the domestic equity market front, the BSE Sensex ended 354.89 points or 0.68 per cent lower at 52,198.51, while the broader NSE Nifty declined 120.30 points or 0.76 per cent to 15,632.10.
Global oil benchmark Brent crude futures rose 0.22 per cent to $ 68.77 per barrel.
According to exchange data, the foreign institutional investors were net sellers in the capital market on July 19 as they offloaded shares worth Rs 2,198.71 crore.