The rupee ended stronger at 60.48/49 per dollar against the previous close of 60.68/69, snapping four days of losses,
After opening strong by 6 paise at 60.63 per dollar against the previous close of 60.69 on sustained overseas capital inflows, the domestic unit hovered in the range of 60.33 and 60.69 in the afternoon trade.
Fresh selling of the American currency by exporters amid sustained inflow of foreign funds supported the rupee, forex dealers said.
Besides, a firm domestic equity market also helped the rupee but the dollar’s gain against other currencies overseas, capped the rise, they added.
The 30-share BSE index Sensex was trading at 27,142.90, up 123.51 points and the 50-share NSE index Nfity was trading at 8,116.35, up 33.3 points in the afternoon session.
Dealers said the rupee may move with a downward bias in the short-term even as the central bank will continue to intervene to avoid sharp volatility in the Indian currency.