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The rupee trimmed its initial losses to end seven paise stronger at 61.83 to a dollar against the previous close of 61.90 on the back of a rally in the domestic equity market.
The Nifty and Sensex ended at their highest closing levels in 2014 so far. The Sensex was up 86.55 points at 21337.67, and the Nifty closed 25.15 points higher at 6338.95. In intraday-trade, the domestic unit touched a high of 61.76 per dollar and a low of 62. Abhishek Goenka, Founder and Chief Executive Officer of India Forex Advisors, said: “After trading in a tight range for almost a week, the rupee is seeing a weakening trend against the US dollar.
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