Rupee rises 12 paise to close at 83.19 against dollar

The rupee appreciated 12 paise to close at 83.19 against the US dollar on Wednesday, as equity benchmarks climbing to all-time high levels and a weak greenback against major currencies overseas boosted investor sentiment.

Forex traders said the rising appetite for riskier assets supported the local currency.

At the interbank foreign exchange market, the local unit opened at 83.23 against the greenback. The unit hit an intraday high of 83.15.

The domestic unit finally settled at 83.19 against the dollar, 12 paise higher from its previous close.

On Monday, the rupee settled flat at 83.31 against the US dollar.

Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, was trading 0.09 per cent lower at 104.05.

Brent crude futures, the global oil benchmark, rose 0.31 per cent to $89.70 per barrel.