Reversing its plunge on Tuesday, the rupee today staged a smart comeback to end at a nearly three-month high of 67.19 against the US currency, surging by a solid 22 paise on fresh bouts of dollar selling by banks and exporters.
Notwithstanding a strong dollar overseas activity, the home currency managed to sidestep the early volatility after RBI’s monetary policy committee maintained status quo on repo rate.
Gaining strong momentum in late afternoon deal, the home currency hit an intra-day high of 67.18 before ending at 67.19, showing a smart gain of 22 paise, or 0.33 per cent — the level not seen since November 11 last year. On Tuesday, the rupee had lost 19 paise.