Advancing its gains for a third straight day, the rupee on Wednesday rose by five paise to end at a near six-week high of 64.28 against the US dollar on steady selling of the American currency by banks and exporters. This is the highest close for the rupee since June 9 when it had settled at 64.24 against the dollar.
Smooth supply of dollars on the back of abundant capital inflows into equities and debt predominantly weighed on trading sentiment. Besides, a spectacular rebound in domestic equities supported the rupee’s rise.