Indian Rupee recovers 12 paise to end at 74.96 against US dollar

The rupee snapped its two-session losing streak to settle 12 paise higher at 74.96 (provisional) against the US dollar on Tuesday, tracking a positive trend in domestic equities.

At the interbank forex market, the local unit opened at 75.05 against the greenback and witnessed an intra-day high of 74.95 and a low of 75.17 during the day trade. It finally ended at 74.96 against the American currency.

On Monday, the rupee had declined by 18 paise to close at 75.08 against the US currency.

The dollar index, which gauges the greenback's strength against a basket of six currencies, fell 0.01 per cent to 93.80.

On the domestic equity market front, the BSE Sensex ended 383.21 points or 0.63 per cent higher at 61,350.26, while the broader NSE Nifty advanced 143 points or 0.79 per cent to close at 18,268.40.

Brent crude futures, the global oil benchmark, fell 0.40 per cent to USD 85.65 per barrel.

Foreign institutional investors were net sellers in the capital market on Monday as they offloaded shares worth Rs 2,459.10 crore, as per exchange data.