Rupee rises sharply against US Dollar |
Indian rupee rose sharply against the US dollar on Thursday, tracking strong gains in Indian equity markets. After opening at 75.88 per dollar, the rupee moved to 75.09 at day`s high, as compared to the previous close of 76.10. Investor sentiment was supported on announcements of stimulus measures by many governments across the globe to combat the impact of coronavirus on the economy. BSE Sensex too surged over 1,400 points on Thursday after posting its best gain in over a decade in the previous session. The US Senate has passed a $2 trillion virus relief bill, boosting equity market sentiment across the globe. The rupee had hit a record low of 76.32 earlier this week. Foreign institutional investors remained net sellers in the capital market, as they sold equity shares worth 253.6 million dollars on Wednesday. Indian economy has been battered by the coronavirus (COVID-19) pandemic and governments across the globe have taken measures to combat the impact.
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