The rupee recovered by nine paise on Monday against dollar to close at 66.55 on fresh selling of the American currency by banks and exporters in view of weakness in greenback in the overseas market.
Persistent foreign capital inflows in view of sustained rise in equity market also boosted the rupee value against the dollar, a forex dealer said.
Foreign portfolio investors and Foreign institutional investors bought shares worth Rs 644.27 crore on last Wednesday, as per provisional data. The domestic currency resumed slightly higher at 66.63 as against last Wednesday’s level of 66.64 per dollar at the Interbank Foreign Exchange (Forex) market and hovered in a range of 66.5225 and 66.7100 before finishing at 66.55, showing a gain of 9 paise or 0.14%.
The dollar index was down by 0.12% as against a basket of six global currencies in the late afternoon trade. The dollar was sharply lower against rival currencies today after major oil producers failed to reach a deal to curb production, prompting investors to rush into the safe-haven Japanese currency.
Meanwhile, the RBI fixed the reference rate for the dollar at 66.6663 and euro at 75.2596. In cross-currency trades, the rupee advanced further against the pound sterling to close at 94.33 from 94.86 on last Wednesday. It also moved up further against the euro to 75.26 per euro from 75.32 while declined against the yen to 61.49 per 100 yens from 60.96 previously.