The rupee appreciated by 25 paise to settle at 75.66 against the US dollar on Tuesday as reports of initial success in COVID-19 vaccine trials boosted investor sentiment world over.
Forex traders said besides the encouraging results in a COVID-19 vaccine trial, gains in domestic equities and a weak greenback in the overseas market supported the local unit. At the interbank foreign exchange, the rupee opened higher at 75.71 against the previous close of 75.91. The unit gained further ground to settle at 75.66 against the American currency, registering a rise of 25 paise. During the trading session, the domestic unit saw an intra-day high of 75.63 and a low of 75.79 against the greenback.
The dollar index, which gauges the greenback’s strength against a basket of six currencies, was trading 0.16 per cent down at 99.50.