The rupee strengthened by 20 paise to close at 55.11 against dollar on fresh selling of US currency by exporters amid speculation that Fed Chairman Ben Bernanke would hint at monetary easing measures in a Congressional appearance later on Tuesday
At the interbank foreign exchange market, the domestic unit opened sharply higher at 54.89 a dollar from its previous close of 55.31.
It immediately touched a high of 54.80 on early rise in local equities amid heavy dollar selling by exporters.
However, the sentiment in favour of rupee was hit in line with stocks that weakened and the currency touched a low of 55.22. It finally concluded at 55.11, a rise of 20 paise of 0.36 per cent over Monday
