Rupee recovers 7 paise to settle at 74.64 against US dollar

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Mumbai, Jul 9 (PTI) The rupee gained 7 paise to end at 74.64 (provisional) against the US currency on Friday, tracking weakness in the American currency in the overseas market.

However, a muted trend in domestic equity markets and surging crude prices restricted the gain in the domestic unit, forex dealers said.

At the interbank foreign exchange market, the rupee opened strong at 74.68 per dollar. It hovered in a range of 74.57 to 74.68 during the session before ending at 74.64 against the greenback, a gain of 7 paise over its last close.

On Thursday, the rupee had settled at 74.71 against the US dollar.

Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, slipped 0.09 per cent to 92.32.

On the domestic equity market front, the BSE Sensex ended 182.75 points or 0.35 per cent lower at 52,386.19, while the broader NSE Nifty fell 38.10 points or 0.24 per cent to 15,689.80.

Brent crude futures, the global oil benchmark, surged 0.98 per cent to USD 74.85 per barrel.

Foreign institutional investors were net sellers in the capital market on Thursday as they offloaded shares worth Rs 554.92 crore, as per exchange data. PTI BAL MR MR

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