Rupee bounces back to close at 82.79 against USD

Mumbai, October 20

The rupee rebounded from its lifetime low to close 21 paise higher at 82.79 against the US dollar on Thursday amid weakness in the greenback overseas. Forex traders said the local currency recovered on suspected RBI intervention after hitting a record low of 83.29 during the session.

However, rising crude oil prices in the international market capped the rupee’s gain, they added.

At the forex market, the local unit opened weak at 83.05 against the greenback but later lost ground to quote at 83.29. It also touched an intra-day high of 82.72.

The rupee pared all its losses to end at 82.79, registering a gain of 21 paise over its previous close. In the previous session, the rupee had settled at an all-time low of 83 against the dollar.

In the domestic equity market, the 30-share BSE Sensex rose 95.71 points or 0.16 per cent to close at 59,202.90, and the broader NSE Nifty climbed 51.70 points or 0.30 per cent to 17,563.95.