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The rupee wiped off its losses and was trading strong at 66.83 on fresh dollar selling by banks and exporters amid a firm domestic equity market.
According to forex dealers, the dollar’s strength against other currencies capped the rupee's gains.
The domestic unit opened weak at 66.91 against the previous close of 66.89 at the Interbank Foreign Exchange market today.
It hovered in a range of 66.92 and 66.82 before quoting at 66.83, up 6 paise at 4.30 pm local time.
In the overseas market, the dollar hit a nine-month high against a basket of currencies on Monday, buoyed by expectations that the US Federal Reserve will raise interest rates this year and by a receding chance of Donald Trump becoming US president.
Meanwhile, the benchmark BSE Sensex ended 101.90 points or 0.36 per cent higher at 28,179.08.
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