The rupee on June 10 had settled at 69.65 to the U.S. dollar.
The Indian rupee on June 11 recuperated by 21 paise to 69.44 to the U.S. dollar in line with strong Asian currencies and rally in domestic equities.
The Indian unit opened strong at 69.49 and rose to the day’s high of 69.34 at the interbank Forex market. During the day, the local unit touched an intra-day low of 69.65 against the U.S. dollar.
The domestic currency finally settled at 69.44, higher by 21 paise from the previous close.
The rupee on June 10 had settled at 69.65 to the U.S. dollar.
Forex dealers said heavy buying in domestic equities propped up the rupee.
“India’s rupee appreciates most in more than a week as rebound in Asian currencies, higher equity markets and stable oil prices supported sentiments,” said V.K. Sharma, Head-PCG & Capital Market Strategy, HDFC securities.
The dollar index, which gauges the greenback’s strength against a basket of six currencies, rose 0.02% to 96.78.
Brent crude futures, the global oil benchmark, rose 0.06% to $62.33 per barrel.
Meanwhile, the 10-year government bond yield was at 7.04% on June 11.
Foreign institutional investors (FIIs) remained net buyers in the capital markets, putting in ₹95.79 crore on June 11, provisional data showed.
The BSE benchmark Sensex Tuesday settled 165.94 points, or 0.42%, higher at 39,950.46. Similarly, the broader NSE Nifty rose 42.90 points, or 0.36%, to settle at 11,965.60.
Meanwhile, Financial Benchmark India Private Ltd. (FBIL) set the reference rate for the rupee/dollar at 69.4598 and for rupee/euro at 78.5544. The reference rate for rupee/British pound was fixed at 88.2658 and for rupee/100 Japanese yen at 63.94.
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