Rupee settles 14 paise higher at 75.62 against US dollar

Mumbai: The rupee appreciated 14 paise to provisionally close at 75.62 against the US dollar on Friday as foreign fund inflows and weak American currency boosted investor confidence.

Forex traders said investors are awaiting the country's gross domestic product data for the January-March quarter, due later in the day, for further cues. The rupee opened at 75.71 at the interbank forex market, gained further ground, and finally settled at 75.62, up 14 paise over its last close. It had settled at 75.76 against the US dollar on Thursday.

On the equities front, the 30-share BSE benchmark Sensex was quoting 80.12 points up at 32,280.71 and broader Nifty rose 46.80 points to 9,536.90. Foreign institutional investors were net buyers in the capital market, as they bought equity shares worth Rs 2,354.14 crore on Thursday, according to provisional exchange data.

The dollar index, which gauges the greenback's strength against a basket of six currencies, fell by 0.08 per cent to 98.30.