Mumbai: The rupee today staged a smart recovery by gaining 14 paise to close at 66.82 a dollar on fresh selling of the American currency by banks and exporters on the back of weakness of greenback in the overseas market. The rupee resumed stable at its overnight level of 66.96 and hovered in a range of 66.78-66.97 before ending at 66.82 per dollar, showing a gain of 14 paise or 0.21 per cent.
Yesterday, the domestic currency eased by four paise or 0.06 per cent. The dollar index was trading higher by 0.06 per cent against a basket of six currencies in the late afternoon trade. In the overseas market, the US dollar fell against its major rivals yesterday, reversing an earlier advance as the latest commentary from the Federal Reserve indicated a desire to hike rates “fairly soon”, but expressed uncertainty about President Donald Trump’s fiscal policies.
Fresh foreign capital inflows also boosted the rupee against the dollar, a Forex dealer said. Foreign investors bought shares worth a net Rs 393.33 crore today, as per the provisional data issued by stock exchanges.