Rupee soars to over 3-month high, at 53.30 vs US dollar
"Euro strengthening to 1.35-1.44 also worked in rupee's favour," Venkatesh said.
Foreign institutional investors today pumped in over USD 170 million (Rs 906.36 crore) into local equities today, according to provisional BSE data.
Meanwhile, the BSE benchmark Sensex closed marginally higher at 20,005. Pramit Brahmbhatt, CEO, Alpari Financial Services (India), said, "The rupee hit a 13-week high tracking gains in euro and other highly traded currencies against the US dollar".
The premium for the forward dollar fell back slightly on fresh stray recevings by exporters.
The benchmark six-month forward dollar premium payable in June ended down at 155-156-1/2 paise from Tuesday's close of 157-159 paise.
Far-forward contracts maturing in December finished a tad lower at 317-319 paise from 317-1/2-319-1/2 paise.
The RBI has fixed the reference rate for the US dollar at 53.5678 and for euro at 72.2340.
The rupee improved further against the pound sterling to 84.04 from previous close of 84.58 and also shot up against the Japanese yen to 58.41 per 100 yen from 59.48.
It, however, turned negative to close at 72.26 per euro from last close of 72.21.
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