Rupee ends higher at 74.74 per dollar

Indian rupee ended higher at 74.74 per dollar, amid buying seen in the domestic equity market.

It opened higher at 74.80 per dollar versus previous close of 74.91 and traded in 74.73-74.87 range.

At 14:08 IST, the Sensex was up 445.21 points or 1.19% at 37864.20, and the Nifty was up 122.40 points or 1.11% at 11144.60.

Oil prices were little changed on Tuesday, trapped in the narrow trading band of the past three weeks as investors gauged hopes for a recovery in oil demand against fears of new lockdowns due to a growing number of coronavirus cases.

"Rupee ended higher Monday on likely overseas inflows into local stocks amid optimism following reports of progress in European Union's talks over additional stimulus which kept dollar prices on pressure. With crude prices hovering and balanced around 40.50 in WTI USDINR kept witnessing selling pressure. 74.75-74.65 in next support level," said Jateen Trivedi, Senior Research Analyst (Commodity & Currency) at LKP Securities.