The rupee ended up 225 paise or 3.27 per cent compared to yesterday's close of all-time high of 68.8.
MUMBAI: The Indian rupee posted its biggest single-day gain since mid-January 1998 as the central bank's latest move to shore up the currency by providing dollars to oil firms directly and the relatively aggressive internvention helped.
The partially convertible rupee closed at 66.55/56 per dollar, up 3.46 percent on the day, its biggest single-day rise since Jan. 19, 1998. The unit had closed at 68.80/81 on Wednesday after hitting a record low of 68.85.
Mirroring the turnaround in rupee, stock markets today soared with the S&P BSE benchmark Sensex logging its best gain in a week of nearly 405 points to end at 18,401.04 on across-the-board buying after RBI opened a special window to help PSU oil firms meet daily forex needs.
The gains in the 30-share bluechip index were led by RIL BSE 4.22 % , HDFC BSE 6.30 % ,ITCBSE 2.65 % and TCS BSE 2.18 % that jumped in the 2-6 per cent range as investors chased shares beaten down in the recent bear run, amid expiry of monthly derivative contracts.
The broad-based National Stock Exchange index Nifty rose by 124.05 points, or 2.35 per cent, to end at 5,409.05 led by stocks of refinery, metal and FMCG sectors. Also, SX40 index, the flagship index of MCX-SX closed at 10,849.51, up 219.46 points or 2.06 per cent.
The central bank was spotted selling the greenback intermittently during the day, several dealers told Reuters.
On Wednesday, the rupee had dropped 3.7 percent in its biggest single-day decline in 18 years.
The partially convertible rupee closed at 66.55/56 per dollar, up 3.46 percent on the day, its biggest single-day rise since Jan. 19, 1998. The unit had closed at 68.80/81 on Wednesday after hitting a record low of 68.85.
Mirroring the turnaround in rupee, stock markets today soared with the S&P BSE benchmark Sensex logging its best gain in a week of nearly 405 points to end at 18,401.04 on across-the-board buying after RBI opened a special window to help PSU oil firms meet daily forex needs.
The gains in the 30-share bluechip index were led by RIL BSE 4.22 % , HDFC BSE 6.30 % ,ITCBSE 2.65 % and TCS BSE 2.18 % that jumped in the 2-6 per cent range as investors chased shares beaten down in the recent bear run, amid expiry of monthly derivative contracts.
The broad-based National Stock Exchange index Nifty rose by 124.05 points, or 2.35 per cent, to end at 5,409.05 led by stocks of refinery, metal and FMCG sectors. Also, SX40 index, the flagship index of MCX-SX closed at 10,849.51, up 219.46 points or 2.06 per cent.
The central bank was spotted selling the greenback intermittently during the day, several dealers told Reuters.
On Wednesday, the rupee had dropped 3.7 percent in its biggest single-day decline in 18 years.
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