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Rupee Rises By 52 Paise To Close At 70.72 Against Dollar: 10 Things To Know
28 Feb 2019, 06:41 PM IST 
The domestic currency had tumbled 17 paise to 71.24 against the dollar on Wednesday.
- 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.
- According to analysts, rupee gained after two days of weakness against dollar on chances of de-escalation of tension with Pakistan.
- 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.
- 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.
- Beside dollar weakness, the foreign fund inflows in domestic equity and lower crude oil prices also boosted rupee's performance.
- "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.
- 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.
- 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.
- 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.
- 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.
(With inputs from agencies)