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USD is up by 53 paise . Closed at 73.69 against

Backed by a firming trend in domestic equities ahead of US Federal Reserve Chairman Jerome Powell’s keynote speech, the Indian rupee on Friday closed 53 paise higher at 73.69 against the greenback. At the interbank forex market, the local unit opened stronger at 74.17 against the dollar, then recovered and closed at 73.69 for the day, 53 paise higher than its previous close of 74.22. The local unit traded in a range of 73.69 to 74.20 in the day’s trade.

Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, fell 0.04 per cent to 93.02.

On the Indian equity market front, the BSE Sensex ended 175.62 points higher at 56,124.72, while the broader NSE Nifty ended 68.30 points higher at 16,705.20.

Global oil benchmark Brent crude futures rose 1.32 per cent to $72.01 a barrel. Foreign institutional investors were net sellers in the capital markets on Thursday as they sold shares worth Rs 1,974.48 crore, according to exchange data.

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