The rupee gained 43 paise against the dollar at 74.03. closed on

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The rupee on Monday edged up 43 paise to tentatively close at 74.03 against the US dollar, fueled by positive domestic equities and a sluggish outlook by the US Federal Reserve.

The domestic currency opened at 74.25 against the US dollar at the interbank forex market, with a high of 73.98 and a low of 74.25 during the day’s trade. It eventually settled at 74.03 cents on the dollar. On Thursday, the rupee was trading at 74.46 against the dollar. Forex market remained closed on Friday for ‘Diwali Balipratipada’. The dollar index, which measures the greenback’s strength against a basket of six currencies, fell 0.04 per cent to 94.28 today.

In the domestic equity market, the BSE Sensex rose 477.99 points or 0.80 per cent to 60,545.61, while the broader NSE Nifty rose 151.75 points or 0.85 per cent to 18,068.55. Brent crude futures, the global oil benchmark, rose 1 per cent to $83.57 a barrel.

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