The rupee closed about 12 paise higher at 86.4425 against the dollar, gaining for the sixth day in a row, and making it the longest gaining streak since September 2024.
Dollar sales by exporters before the end of the financial year strengthened the local currency.
The rupee opened a tad weaker at 86.6450 against Tuesday’s close of 86.57 but got strength with dollar sales and inflows. It touched the intra-day peak at 86.4250, which is the highest level since January 27.
“The Indian rupee experienced its longest winning streak since September 2024, appreciating for the sixth consecutive day. This rally was fueled by an influx of foreign capital after a period of sustained selling in domestic equities, alongside positive market sentiment supported by strong high-frequency data,” said Dilip Parmar, a research analyst with HDFC Securities.
