Snapping its five-session losing streak, the rupee surged 28 paise to close at 75.32 against the US dollar on Tuesday amid signs of easing Russia-Ukraine tensions.
A recovery in domestic equities and weakness of the greenback overseas further helped the domestic currency, analysts said. At the interbank forex market, the local unit opened on a weak note at 75.60 against the greenback and witnessed an intra-day high of 75.31 and a low of 75.72. It finally settled at 75.32, a rise of 28 paise over its previous close.
On Monday, the rupee had slumped by 24 paise to close at an over nine-week low of 75.60. Meanwhile, the dollar index, which measures the greenback's strength against a basket of six currencies, fell 0.37 per cent to 96.01. On the domestic equity market front, the BSE Sensex ended 1,736.21 points or 3.08 per cent higher at 58,142.05, while the broader NSE Nifty jumped 509.65 points or 3.03 per cent to 17,352.45.
Brent crude futures, the global oil benchmark, was trading 2.76 per cent lower at USD 93.82 per barrel.