The rupee climbed 35 paise to end at nearly two-week high of 73.48 per dollar on Tuesday amid softening crude oil prices and easing concerns over the trade deficit.
Stock markets welcomed a retreat in oil prices and gains in the rupee with the benchmark 30-share Sensex rising by 297.38 points to close at 35,162.48. The NSE Nifty after regaining the 10,600-mark hit a high of 10,604.90 on the back of widespread gains, and finally concluded 72.25 points at 10,584.75.
As the equity market continued its winning run for the third straight session on Tuesday, investor wealth soared Rs 5.30 lakh crore in the rally since Friday.
Traders said foreign fund inflows and greenback weakening against other currencies were the other factors that provided support to the home unit. At the Interbank Foreign Exchange, the rupee opened on a firm note at 73.79 from Monday’s close of 73.83. During the day the domestic currency gained further ground to hit a high of 73.47 against the US dollar, driven by selling of the greenback by exporters.
