Re spurts 77 paise to close at 70.69 vs USD

Mumbai, November 22 

The rupee rallied 77 paise to end at 70.69 against the US dollar today, in lock-step with softening crude oil prices and foreign capital inflows. 

This is the seventh straight session of gains for the domestic unit amid the US dollar weakening against some currencies overseas. In the past seven trading sessions, the rupee has gained a healthy 220 paise.

Traders said increased selling of the greenback by exporters and banks also supported the rupee.

At the Interbank Foreign Exchange (forex) market, the rupee opened on a firm note at 71.12 and hit a high of 70.68 following dollar selling by exporters.

 The local unit, however, pared the initial gains and finally finished at 70.69, up 77 paise. — PTI