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Rupee ends higher at 72.43 per dollar

We expect USDINR pair to retrace towards 73 levels, says ICICI Direct.

May 28, 2021 / 03:53 PM IST

Indian rupee ended higher by 15 paise at 72.43 per dollar, amid buying saw in the domestic equity market with Nifty hitting fresh record high.

It opened 10 paise higher at 72.48 per dollar against previous close of 72.58 and traded in the range of 72.32-72.49.

At close, the Sensex was up 307.66 points or 0.60% at 51422.88, and the Nifty was up 97.80 points or 0.64% at 15435.70.

"Yesterday expectation was that due to month end closing in futures there could be some buying but flows are so huge that all buying is being absorbed and USDINR is just not able to move higher. Today also is month end for OTC and the opening seems to be below 72.50 as the market gets sold off," said Anil Kumar Bhansali, Head of Treasury - Finrex Treasury Advisors.