The rupee ended at 65.58 against the US dollar on Wednesday at the Interbank Foreign Exchange tracking the gains in the domestic equity market after the Reserve Bank cut interest rates by 0.50 per cent yesterday.
The rupee traded in a range of 65.87 and 65.58 in intra-day deals.
Forex dealers said besides the positive sentiment on the domestic equity market, the dollar’s weakness against other currencies overseas, supported the rupee.
The domestic currency had gained nine paise to close at 65.96 against the US currency in Tuesday’s trade on persistent selling of dollars by banks and exporters amid sustained capital inflows.