Mumbai, Dec. 30 -- The rupee rose 23 paise to close at 89.75 against the greenback on Tuesday primarily on account of dollar selling by the Reserve Bank.
Strong industrial output numbers supported the local unit, but a stronger greenback, higher global crude oil prices, and foreign fund outflows prevented sharper gains, forex traders said.
At the interbank foreign exchange, the rupee opened at 89.98 against the dollar and touched the intraday high of 89.72 against the greenback during the session. The local unit eventually settled at 89.75, up 23 paise from its previous close. It depreciated 8 paise to close at 89.98 on Monday.
Published by HT Digital Content Services with permission from Millennium Post.