Rupee Weakens, Returns To 75 Mark Against Dollar

The rupee appreciated by 11 paise - or 0.15 per cent - to return to 74 levels on Thursday. The domestic currency moved in a range of 74.91-75.02 during the session, having started the day stronger at 74.94 compared to its previous close of 75.02. Analysts say gains in domestic equity markets and weakness in the dollar overseas supported the rupee, however weakness in other Asian currencies limited the upside.  (Also Read: Why Little Uptick In Rupee Is Expected Despite Multiple Positives)

At Wednesday's close of 75.02, the rupee has recovered 2.46 per cent from a record low of 76.91 logged in April, but is still down 5.13 per cent against the US currency so far this year. That makes the rupee the worst performing Asian currency.

Domestic stock markets climbed up around 1 per cent amid a rally in metal stocks, continuing to rise a day after benchmark indices snapped a rally that lasted for five sessions in a row.The S&P BSE Sensex index rose 1.01 per cent to touch 36,694.34 at the strongest level recorded on Thursday, and the broader Nifty benchmark climbed up 0.88 per cent to 10,800.00.