In tandem with rally in local stocks, the Indian rupee also appreciated further by 20 paise to close at a fresh 11-month high of 58.59 against the Greenback, extending gains for the fourth session in a row.
Sustained dollar selling by exporters and some banks amid frenzied capital inflows too boosted the rupee sentiment, a forex dealer said.
Weak dollar overseas too added fuel to the fire as the dollar index, a gauge of six major global rivals, was down by 0.13 per cent.
At the Interbank Foreign Exchange (Forex) market, the domestic currency commenced strong at 58.53 a dollar from the last close or 58.79 and moved in a range of 58.3750 and 58.6150 before settling at 58.59, showing a rise of 20 paise or 0.34 per cent. Previously, it had closed at 57.87 on 17 June, 2013.
Sustained dollar selling by exporters and some banks amid frenzied capital inflows too boosted the rupee sentiment, a forex dealer said.
Weak dollar overseas too added fuel to the fire as the dollar index, a gauge of six major global rivals, was down by 0.13 per cent.
At the Interbank Foreign Exchange (Forex) market, the domestic currency commenced strong at 58.53 a dollar from the last close or 58.79 and moved in a range of 58.3750 and 58.6150 before settling at 58.59, showing a rise of 20 paise or 0.34 per cent. Previously, it had closed at 57.87 on 17 June, 2013.