Rising for the fourth consecutive session, the rupee today ended at a fresh two-week high of 66.50 on sustained selling of the US currency by exporters and banks despite higher greenback overseas.
A large uptick in foreign capital inflows into debt and equities largely supported the domestic unit to maintain its edge against the greenback.
Unwinding of long-dollar positions by speculative traders and the currency’s strong underlying fundamentals further buoyed the home unit.
The rupee opened substantially higher at 66.54 from overnight close of 66.61 at the Interbank Foreign Exchange (forex) market and kept moving higher to hit an intra-day high of 66.4375 before concluding at 66.50 (its highest level since September 6), showing a smart gain of 11 paise, or 0.17 per cent.