Rupee up 14 p at 54.54 on hopes of USD inflow on FDI vote win
However, if the outcome of the voting goes against the expectations of the government, then we may see rupee drifting to 55.00 levels again, Goenka said.
Pramit Brahmbhatt, CEO, Alpari Financial Services (India) said: "Expectations of government's push for policy reforms continued to support gains in the rupee today."
Meanwhile, the premium for the forward dollar ended better on fresh payments from banks and corporates.
The benchmark six-month forward dollar premium payable in May rose to 171-172 paise from last close of 169-171 paise.
Far-forward contracts maturing in November also firmed up to 317-1/2-319-1/2 paise from 316-318 paise.
The RBI has fixed the reference rate for the US dollar at 54.5690 and for euro at 71.5290.
The rupee recovered against the pound sterling to 87.85 from Tuesday's close of 88.12 and also turned positive to end at 71.39 per euro from 71.49.
It improved further against the Japanese yen to 66.36 per 100 yen from previous close of 66.67.
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