Ushering in the new year on a strong note, the rupee on Tuesday gained 31 paise to hit a nearly two-week high of 54.68 against the dollar on fresh selling of the US currency by exporters.
Meanwhile, reaching a last-minute deal to avoid the much-discussed ‘fiscal cliff’, the US Senate approved a bill to avert automatic tax hikes and huge spending cuts.
The local currency commenced the day higher at 54.83 from Monday’s close of 54.99 at the Interbank Foreign Exchange (Forex) market.
Later, it bounced back on firm local stocks and fresh dollar selling by exporters to settle at the day’s high of 54.68, up 31 paise, or 0.56 per cent, from its previous close.
The rupee remained weak against the pound sterling to 89.04 from yesterday’s close of 88.90 while recovered to 72.28 per euro from 72.51. It also bounced back against the Japanese yen to 63.07 per 100 yen from previous close of 63.84.
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