Rupee Gains 63 Paise Against US Dollar for Second Straight Day

The Indian rupee strengthened for the second consecutive session on Friday, rising 63 paise to close at 95.73 against the US dollar.

The recovery was supported by lower crude oil prices, positive domestic stock markets and expectations of RBI intervention to control volatility. The rupee had earlier opened at 96.30 and touched an intra-day high of 95.30.

Analysts said easing geopolitical tensions and improved investor sentiment also boosted the domestic currency. Meanwhile, the Sensex and Nifty ended the day in positive territory.