The rupee staged a solid recovery against the US dollar on Tuesday, rising 16 paise to end at 67.02, its highest highest level in a month on heavy selling of the greenback by exporters and banks.
A massive rally in domestic equities along with smooth supply of dollars on the back of sustained capital inflows into equities and debt helped the upmove. Bullish comments fromthe RBI that near-term outlook for India seems brighter than last fiscal and the economy is likely to expand at 7.6 per cent in 2016-17, further bolstered sentiment, a forex dealer said.