Rupee recovered from its two-session losing run to close 12 paise higher at 74.96 against the dollar on Tuesday as crude oil prices eased and domestic equities registered a positive trend. Analysts told news agency PTI that a weaker greenback against major global currencies and easing United States’ treasury yields further supported the local currency.
The local currency opened at 75.05 higher than yesterday’s close. It touched an intra-day high of 74.95 against the dollar and a low of Rs 75.17. Eventually, it closed the day at 74.96 against the greenback. It had slipped 18 paise to close at 75.08 on Monday.
Brent crude futures, fell 0.40 per cent to $85.65/barrel.
Demand for dollar from state-run banks, likely on behalf of importers, capped large gains in the local unit. Participants however remain cautious ahead of the revealing of important fiscal numbers.
Analysts told PTI that the focus would also be on the United States consumer confidence data as a better-than-expected number could extend gains for the dollar.
