Rupee rises 6 paise to close at 83.55 against U.S. dollar

Rupee rebounds, closes at 83.55 against dollar as currency and oil prices retreat, markets volatile.

The rupee rebounded from its all-time low levels and appreciated 6 paise to close at 83.55 (provisional) against the U.S. dollar on Thursday, as the American currency and brent crude oil prices retreated from their elevated levels.

At the interbank foreign exchange market, the local unit opened at 83.51 against the greenback. The unit hit an intra-day high of 83.49.

The domestic unit finally settled at 83.55 (provisional) against the dollar, 6 paise higher from its previous close.

On Tuesday, the rupee plunged 17 paise to hit its lowest level of 83.61 against the U.S. dollar for the second time in four weeks.

Forex and money markets were closed on Wednesday on account of 'Ram Navami'.

Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading 0.07% lower at 105.87.

Brent crude futures, the global oil benchmark, fell 0.93% to $86.48 per barrel.