Supported by sustained dollar inflows into the Indian markets, the rupee closed stronger at 61.76 against the American currency.
The Indian currency had closed at 61.97 on Wednesday. Intraday, the rupee was moved in the 61.72 to 61.99 range. The local currency also got support from debt-related inflows over last two sessions.
“Foreign investors were net buyers of $349.42 million in Indian markets yesterday, according to the National Securities Depository Ltd,” said Suresh Nair, Director, Admisi Forex.
RBI, forex dealers said bought dollars earlier in the session via state-run banks to keep rupee’s gains in check.