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The rupee appreciated by 44 paise to 71.87 against the US dollar on fresh foreign fund inflows and easing crude oil prices. As per provisional data, foreign institutional investors had bought shares worth Rs 277.38 crore on Wednesday.
Dealers said the rupee was also supported by increased selling of dollar by exporters and dollar’s weakness against other currencies overseas. A firm domestic equity market too supported the rupee.
The domestic unit hovered in a range of 72.18 and 71.87 before quoting at 72.14, up 17 paise at 3.45 pm local time. The benchmark BSE Sensex ended higher by 118.55 points or 0.34 per cent at 35,260.54.
On Wednesday, the rupee had ended strong by 36 paise at 72.31 as global crude oil prices hovered near one-year lows, easing concerns over expanding current account deficit and inflation. Brent crude, the international benchmark, fell 0.47 per cent to $ 65.81 a barrel.
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