Mumbai: After a two-day pause, the rupee gained 12 paise to 85.33 against the US dollar on Thursday, on weak greenback and overnight decline in crude oil prices.
Forex traders said the rupee strengthened on the weak US dollar and overnight decline in crude oil prices amid slowing US business activity. The US Treasury yields also declined with the 10-year yield falling 3 bps to 4.35 per cent.
At the interbank foreign exchange, the domestic unit opened at 85.60 and moved between the intra-day high of 85.25 and the low of 85.67 against the greenback.
The unit ended the session at 85.33, registering a gain of 12 paise over its previous closing level.
On Wednesday, the rupee depreciated 26 paise and settled for the day at 85.45 against the US dollar.
Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, was trading lower by 0.51 per cent at 99.33.
Brent crude, the global oil benchmark, rose 0.65 per cent at $66.55 per barrel in futures trade. FIIs bought equities worth Rs 3,332.93 crore on a net basis on Wednesday, according to exchange data.