Forex dealer said increased demand for the American currency from oil importers and dollar's gains against other currencies overseas mainly put pressure on the local unit.
Mumbai: The rupee rises to 52.95/96 from a session high of 53.1050, as gains in the domestic shares hurt sentiment for the dollar. The cross closed at 52.87/88 on Wednesday. Traders say dollar demand from oil firms could cap any broader losses in USD/INR.
The Sensex is up 0.7 per cent, led by gains in banking shares ahead of the RBI policy review later this month. The euro holds near a one-month high against the dollar as a fall in Spanish bond yields, strong US housing data, and hopes for a year-end rebound in China boost optimism on the global economy.
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