Mumbai: With global stocks higher for a fifth straight day the domestic currency on Tuesday gained sharply.
With an appreciation of 36 paise the local unit opened at 79.30 against the greenback. It witnessed an intra-day high of 79.03 and a low of 79.33 during the session closing at 79.91
The dollar index, which measures the greenback’s strength against a basket of six currencies, fell 0.40 per cent to 107.89. Brent crude futures, the global oil benchmark, advanced 0.96 per cent to USD 94.87 per barrel.
The dollar gauge fell for the third consecutive day the longest losing streak in a month, in the run-up to the CPI data.
Reports showed the rupee was last changing hands at 79.1475, after opening sharply stronger at 79.3200, compared to Monday’s close of 79.5313.