The rupee appreciated 18 paise against the US dollar to settle at 90.20 on Thursday, despite the broad strength of the American currency in the overseas market on possible intervention by the Reserve Bank of India (RBI).
Forex traders said Brent crude oil prices hovering near USD 59 per barrel supported the domestic unit at lower levels. However, a recovery in the dollar index and weak domestic markets capped sharp gains.
At the interbank foreign exchange, the rupee opened at 90.35 against the US dollar, then recovered some lost ground to touch an intra-day high of 90.04, registering a 34 paise gain from its previous close.
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