The rupee surged by 47 paise to close at 74.88 against the US dollar on Wednesday on easing global crude oil prices. However, rising dollar in the overseas market and losses in the domestic equity markets put some pressure on the rupee. At the interbank forex market, the local unit opened strong at 75.10 against the greenback and later gained strength to settle at 74.88, higher by 47 paise over its previous close of 75.35. The local unit moved in a range of 74.83 to 75.13 in the day trade. The currency market was closed on Tuesday for the Id-E-Milad' holiday. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, surged 0.12 per cent to 93.84. Powered by Commodity Insights
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