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The rupee appreciated by 27 paise to settle at 75.15 against the US dollar on Wednesday on expectations of foreign fund inflows and optimism over development of a COVID-19 vaccine.
Investor sentiment strengthened after human clinical trials for a COVID-19 vaccine were initiated in India, forex dealers said.
The rupee opened at 75.35 against the US dollar and gained further ground to touch a high of 75.14. The unit finally settled at 75.15 against the US dollar, up 27 paise over its previous close.
It had settled at 75.42 against the greenback on Tuesday.
Foreign institutional investors were net sellers in the capital market as they sold shares worth Rs 1,565.62 crore on Tuesday, according to provisional exchange data.
Brent crude futures, the global oil benchmark, rose 0.44 per cent to $43.09 per barrel.
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