Mumbai: The rupee rose 31 paise to close at 89.87 against the US dollar on Wednesday on possible intervention by the Reserve Bank of India and a fall in global crude oil prices.
At the interbank foreign exchange, the rupee opened at 90.20 against the US dollar and traded in the range of 89.75-90.23 before settling at 89.87, up 31 paise from its previous close. The rupee snapped its four-day losing streak to appreciate 12 paise to settle at 90.18 against the dollar on Tuesday.
Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, was trading 0.07 per cent higher at 98.65.
Brent crude, the global oil benchmark, was trading 0.99 per cent lower at USD 60.10 per barrel in futures trade.