The rupee snapped its two-day losing streak and closed 8 paise higher at 85.79 against the US dollar on Thursday, supported by positive domestic equities and a rise in Asian currencies.
Forex traders said overnight softening of crude oil prices favoured the rupee. However, a strong US dollar index capped sharp gains.
Besides, market participants are now keenly awaiting the outcome of the Reserve Bank of India's (RBI's) monetary policy meeting for further cues, they said.
Copyright © 2017 Indian Grapevine a unit of Integrated Media Enterprises
