Rupee settles 15 paise more at 71.35 against US dollar

The Indian rupee settled 15 paise higher at 71.35 against the US dollar on Wednesday, as gains in domestic equities and sustained foreign fund inflows strengthened investor sentiments.

Forex traders said the rupee appreciated for the second straight day on foreign inflows in primary as well as the secondary equity market.

At the interbank foreign exchange market, the rupee opened strong at 71.43 against the US dollar. During the day, the domestic unit fluctuated between a high of 71.30 and a low of 71.48.

The rupee finally settled at 71.35, up 15 paise over its previous close.

The local unit had closed at 71.50 against the US dollar on Tuesday.

This is the second straight session of gain for the domestic currency during which it has appreciated by 39 paise.