The rupee rallied 29 paise to trade at nearly 20-month high of 63.97 against the dollar in late morning deals due to persistent selling of the American currency by banks and exporters.
Fresh foreign capital inflows also boosted the rupee’s value against the dollar, a forex dealer said.
The rupee resumed higher at 64.23 per dollar as against yesterday’s closing level of 64.26 at the Interbank Foreign Exchange (Forex) Market. It firmed up further to a 20-month high of 63.93 before quoting at 63.97 at 1100 hrs, showing a gain of 29 paise.
The rupee had last traded at 63.7350 per dollar during intra-day trade on August 10, 2015.
In the overseas market, the dollar advanced against the yen yesterday, but extended its slide against the euro and a handful of European currencies, as investors awaited a “big announcement” about President Donald Trump’s plans for overhauling the US tax code.
The BSE Sensex resumed higher at 30,030.20 and shot up to an all-time high of 30,118.86 before quoting at 30,098.52 at 1045 hrs, showing a gain of 155.28 points or 0.52 per cent.