Re rises 2ps to 83.32/$
USD-INR spot price is expected to trade in a range of Rs83 to Rs83.60
Mumbai: The rupee sustained its gaining momentum for the second straight session and settled 2paise higher at 83.32 (provisional) against the US dollar on Wednesday boosted by robust buying in equity markets and inflow of foreign funds.
A weak American currency against major rivals supported the domestic unit while an upward movement in crude oil prices ahead of the crucial meeting of oil-producing countries capped the gain in the rupee, forex traders said. At the interbank foreign exchange, the rupee opened stronger at 83.30 against the dollar and traded between the peak of 83.28 and the lowest level of 83.33 intra-day. It finally settled at 83.32 against the greenback, up 2paise over its previous close.
On Tuesday, the rupee rebounded from record low levels and settled six paise higher at 83.34 against the US dollar.
