Rupee gains 18 paise to close at 81.56 against U.S. dollar
The Hindu
On Tuesday, the rupee settled at 81.74 against the U.S. dollar.
The rupee gained 18 paise to close at 81.56 (provisional) against the U.S. dollar on Wednesday, driven by foreign inflows from bonds selling and overall weakness in crude oil prices.
However, a muted trend in domestic equities dented investor sentiments and capped the sharp gains in the rupee, traders said.
At the interbank foreign exchange market, the local unit opened at 81.73 and touched an intra-day high of 81.52 and a low of 81.82 against the greenback.
It finally ended at 81.56 (provisional), registering a rise of 18 paise over its previous close.
On Tuesday, the rupee settled at 81.74 against the U.S. dollar.
"Indian Rupee appreciated on Wednesday extending gains of the previous day on foreign inflows from bonds selling...and overall weakness in crude oil prices," said Anuj Choudhary - Research Analyst at Sharekhan by BNP Paribas.
However, FII outflows and recovery in U.S. Dollar capped sharp gains.
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The Rupee appreciated by 19 paise to close at 89.96 against the U.S. dollar amid weak dollar index support.