The Indian rupee appreciated against the U.S. dollar on Thursday.
The local currency opened at 81.68, strengthening 0.2% or 17 paise against the greenback. It closed at 81.85 on Wednesday.
Intraday, the rupee gained as much as 0.30% to 81.60. At close, it traded 0.27% or 23 paise higher at 81.62.
"U.S. dollar declined yesterday amid a rise in risk appetite in the global markets, disappointing economic data from the U.S., and fall in U.S. treasury yields," ICICI Direct said in a pre-market strategy report.
The rupee had hit a record low of 83.29 on Oct. 20.
"Attempts to head to 82 persisted, but failed to gain enough momentum. Sideways trades could continue to persist, but a bearish [dollar-rupee] bias may now emerge aiming for 81.4, and we would look to buy [dollar-rupee] only once well below this, or above 82," said James Anand, chief market strategist at Geojit Financial Services Ltd.
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