Rupee gains for 3rd straight session; rises 15 paise to 72.45 against USD

The rupee strengthened for the third straight session on Friday and closed 15 paise higher at 72.45 (provisional) against the US dollar tracking positive domestic equities.

At the interbank forex market, the local unit opened at 72.46 against the greenback and witnessed an intra-day high of 72.31 and a low of 72.49 during the session.

It finally ended at 72.45 against the American currency, registering a rise of 15 paise over its previous close.

On Thursday, the rupee had settled at 72.60 against the US dollar.

In the last three trading sessions, the rupee has appreciated by 51 paise.

Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, rose 0.14 per cent to 90.09.

Brent crude futures, the global oil benchmark, advanced 0.30 per cent to USD 69.67 per barrel.

On the domestic equity market front, the BSE Sensex ended 307.66 points or 0.60 per cent higher at 51,422.88, while the broader NSE Nifty advanced 97.80 points or 0.64 per cent to 15,435.65.

Foreign institutional investors were net sellers in the capital market on Thursday as they offloaded shares worth Rs 660.90 crore, as per exchange data.

Further, the rupee gained strength as daily COVID-19 cases declined, traders said.

The single day rise in coronavirus cases in India fell below the 2-lakh mark for the second time this month, while the recoveries continue to outnumber daily cases for the 15th consecutive day, according to the Union Health Ministry data updated on Friday.