- Tag results for rupee
At the Interbank forex market, the rupee opened with strength at 72.81 and advanced to 72.60 against the dollar, showing a rise of 29 paise over its previous close of 72.89.
Further impacting domestic market sentiments, the Indian rupee again breached the 73-mark, dropping 57 paise (intra-day) to 73.07 against the dollar.
Increase in global crude oil prices and demand for the American currency results in the 54 paise dip.
The international benchmark, Brent crude again breached the USD 71 a barrel mark by surging 1.21 per cent.
The dollar weakened following the US mid-tem election results, which showed Democrats wresting control of the House of Representatives from the ruling Republican party.
The dollar's weakness against some currencies overseas and a better opening of the domestic equity market also supported the rupee, dealers said,.
On Friday, the rupee clocked its biggest single-day gain in over five years, surging by 100 paise to close at 72.45 against the US dollar.
The domestic currency has already crossed the 74 mark owing to continued strengthening of the dollar, lack of foreign flows and higher crude oil prices.
Weak dollar against some currencies overseas and strong equity market boosted the Indian currency.
The rise was also supported by dollar-selling by exporters and banks and the US unit's weakness against some currencies overseas, traders said
The domestic unit registered day high and low at 73.88 and 73.45 respectively. Weak dollar against some currencies overseas pushed the Indian currency up, dealer added.
At the interbank foreign exchange, after opening higher at 73.88 rupee strengthened further to quote at 73.84 against the dollar registering a recovery of 11 paise over its previous close.
After opening lower at 73.91, the rupee had plunged to the day's low of 74.14 as investors turned nervous over reports of rift between the RBI and the government.
The 30-share Sensex rallied 550.92 points, or 1.63 per cent, to close at 34,442.05, while the broader NSE Nifty surged 188.20 points, or 1.85 per cent, to end above the 10,350 mark at 10,386.60.
At the interbank foreign exchange, after opening lower at 73.91, rupee weakened further to quote at 74.08 against the dollar registering a fall of 40 paise over its pervious close.