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The rupee today rallied for the second straight day and appreciated 14 paise to end at an over one-month high against the US currency, shrugging off the fall in local stocks and a firm dollar overseas.
Forex dealers said that sustained sale of dollars by exporters and banks amid weak equities supported the rupee trend. The Bombay Stock Exchange benchmark Sensex tumbled by over 295 points or 1.60 per cent while the dollar index was up by over 0.2 per cent against six major currencies in European market today.
Sustained capital inflows too helped the rupee gain, they said. Foreign Institutional Investors (FIIs) continued their buying during the week, albeit in small lots.
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