Mumbai: The rupee appreciated 12 paise to settle at 83.43 against the US dollar on Tuesday, buoyed by fresh inflow of foreign capital and a firm trend in domestic equity markets, wherein benchmark indices scaled new peaks.
Forex traders said reports of dollar selling by public sector banks supported the Indian currency. However, higher crude oil prices capped the gains in the local unit.
At the interbank foreign exchange market, the local unit opened at 83.52 and hit the intraday high of 83.39 against the greenback during the session.
It finally settled at 83.43 against the dollar, registering a gain of 12 paise from its previous close.
On Friday, the rupee had settled 1 paisa lower at 83.55 against the US dollar.
Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, was trading at 105.06, higher by 0.12 per cent.
Meanwhile, India’s forex reserves jumped $4.307 billion to a new all-time high of $655.817 billion for the week ended June 7, the RBI on Friday.
The kitty had jumped $4.837 billion to $651.51 billion in the previous reporting week.