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The rupee strengthened by 26 paise to 63.79 against the dollar at the interbank foreign exchange market today on continuous selling of the US currency by exporters and banks.
According to forex dealers, dollar's weakness against major currencies overseas boosted the rupee. Besides, increased selling of the dollar by exporters and banks and a firm domestic equity market supported the uptrend.
The domestic unit opened strong by 22 paise at 63.83 against the previous close of 64.05. It hovered in a range of 63.95 and 63.79 before quoting at 63.82, up 23 paise at 4.40 pm local time.
The dollar fell to its weakest level since 2015 as experts warn that Hurricane Irma could have a devastating impact on the US. The powerful storm has left a trail of death and destruction in the Caribbean and is headed towards the US.
The European Central Bank has also raised its economic growth forecast for this year, which boosted the euro.
Meanwhile, the 30-share BSE index Sensex ended higher by 24.78 points or 0.08 per cent at 31,687.52.
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