Rupee appreciates by 40 paise to 51.75 against USD
Rising for the fifth day, the rupee today appreciated by 40 paise to a five-and-half month-high of 51.75 against US Dollar on persistent selling of the greenback by banks and exporters, dealers at the Interbank Foreign Exchange said.
The local unit advanced by 27 paise in the early trade and firmed up by 48 paise during the day. At the end of the session, it ended at 51.75, with a gain of 40 paise compared with its last close.
It recorded the day's high and low at 52.05 and 51.67 per USD, respectively, with a major fluctuation.
The weakness of Dollar against other major world currencies and strong equity market pushed the rupee in strong position.
The rupee gained today as government looks set to push to open up the pension sector for foreign investors and raise FDI limits in insurance, dealers added.