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The rupee strengthened by 22 paise to 64.86 against the US dollar today, buoyed by a set of positive economic data.
Industrial production expanded to a 9-month high of 4.3 per cent in August, while retail inflation was stagnant at 3.28 per cent in September compared to the previous month.
A firm domestic equity market and the dollar’s weakness against other currencies overseas kept the rupee on a firm ground, traders said.
But continuous outflow of foreign funds kept the upmove in check.
The domestic unit opened strong by 12 paise at 64.96 at the Interbank Foreign Exchange market today. It hovered in a range of 64.96 and 64.86 before quoting at 64.91, up 17 paise at 4.30 pm local time.
Yesterday, the rupee had appreciated by another 6 paise to end at a fresh one-week high of 65.08 on continued selling of the greenback. Meanwhile, the benchmark BSE index closed higher by 250.47 points or 0.78 per cent at 32,432.69.
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