Breaking the streak of severe battering it suffered in the last few days, the rupee on Thursday soared by a staggering 225 paise to end at 66.55 against the dollar and the Sensex too jumped by 405 points on the back of RBI opening a special dollar facility for PSU oil companies.
After the rupee plunged to an all-time low of 68.80 on Wednesday, the RBI allowed the three state-owned oil companies to buy dollars directly, the latest in a series of moves to arrest volatility in the domestic currency, which has slid over 20 per cent since April 30.
After the rupee plunged to an all-time low of 68.80 on Wednesday, the RBI allowed the three state-owned oil companies to buy dollars directly, the latest in a series of moves to arrest volatility in the domestic currency, which has slid over 20 per cent since April 30.