Rupee Rises By 52 Paise To Close At 70.72 Against Dollar: 10 Things To Know

1. At the forex market, the domestic unit opened slightly up at 71.22. It rose to an intraday high of 70.70, before finally closing at 70.72, showing a gain of 52 paise.  
2. According to analysts, rupee gained after two days of weakness against dollar on chances of de-escalation of tension with Pakistan.
3. In a surprise announcement, Pakistan Prime Minster Imran Khan told a joint session of Parliament that IAF's captured pilot Wing Commander Abhinandan Varthaman will be released on Friday as a gesture of peace, news agency PTI said.   
4. The dollar index, which gauges the greenback's strength against a basket of six currencies, dropped 0.22 per cent to 95.94 on Thursday as US President Donald Trump's summit with North Korean leader Kim Jong Un ended without an agreement.    
5. Beside dollar weakness, the foreign fund inflows in domestic equity and lower crude oil prices also boosted rupee's performance.    
6. "So far this month, overseas investors have bought $2.31 billion in domestic equity," said V K Sharma, Head PCG and Capital Markets Strategy, HDFC Securities.  
7. The GDP data for the October-December quarter, which was released after market hours on Thursday, showed Indian economy growing to a lower-than-expected 6.6 per cent, the lowest in five quarters, dragged by lower farm and manufacturing growth.
8. Brent crude futures, the global oil benchmark, slipped 0.92 per cent to $65.83 per barrel on rise in US crude oil output and weaker Chinese manufacturing data.    
9. Domestic stock markets also ended lower on Thursday after investors squared-off positions as February derivative contracts expired. The S&P BSE Sensex fell 38 points or 0.11 per cent to close at 35,867 and NSE Nifty 50 Index declined 14 points to settle at 10,792.
10. Foreign investors (FIIs) remained net buyers in the capital markets, putting in Rs 423 crore on a net basis on Wednesday, as per provisional data.   

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