Rupee spurts 39 paise to almost 2-week high of 79.52 against dollar on forex inflows, lower crude price

The dollar index, which measures the greenback's strength against a basket of six currencies, slipped 0.06% to 108.76

The rupee rebounded by 39 paise to close at an almost two-week high of 79.52 against the U.S. dollar on Tuesday, supported by foreign fund inflows and a correction in crude oil prices.

The U.S. dollar retreating from the 20-year high levels against a basket of world currencies also supported the local unit.

At the interbank forex market, the local unit opened at 79.92 against the greenback. It witnessed an intra-day high of 79.44 and a low of 79.92 against the American currency during the session.

It finally ended at 79.52 against the U.S. dollar, up 39 paise from its previous close. The rupee had settled near this level on August 17 previously.

In the previous session, the rupee depreciated 7 paise to close at 79.91 against the American dollar. The rupee fell to its all-time low of 80.15 against the U.S. dollar in intra-day trade.

Meanwhile, the dollar index, which measures the greenback's strength against a basket of six currencies, slipped 0.06% to 108.76. The dollar index had surged to 109.48 in overnight trade, a level not seen since September 2002.

Brent crude futures, the global oil benchmark, fell 2.23% to $102.75 per barrel.