New Delhi, September 17 (HS): Supported by easing crude oil prices and positive global market sentiment, the Indian rupee extended its gains for the second straight session, strengthening against the US dollar on Tuesday. Increased foreign inflows into the currency market also buoyed the domestic unit.

The rupee closed the day at a provisional 87.81 against the greenback, marking a 26 paise appreciation from its previous close of 88.07 per dollar.

The local currency opened stronger in the interbank foreign exchange market, starting at 87.83 per dollar, 24 paise higher than Monday’s close. In early trade, the rupee rallied further to 87.71, reflecting a 36 paise gain, but later trimmed some of its strength as dollar demand picked up, slipping to 87.86. It eventually settled at 87.81 by the end of the trading session.

Not only did the rupee post gains against the US dollar, but it also strengthened against most major global currencies. The Indian unit firmed 29.21 paise to close at 119.84 (provisional) versus the British pound, while it rose marginally by 1.43 paise against the euro to settle at 104.01 (provisional).

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Hindusthan Samachar / Jun Sarkar