The domestic unit resumed sharply higher at 66.38 per dollar as against yesterday's level of 66.55 at the Interbank Foreign Exchange (Forex) market.
It hovered in a range of 66.26 to 66.42 during the morning deals before quoting 66.38 at 1030 hrs.
“The rupee had strengthened against the US dollar after touching an intra-day high of 66.80 yesterday due to selling by custodial banks and some buying from PSBs to meet the oil demand", a forex dealer said.
"The rupee will take cues from the equity market and is expected to trade in a range of 66.42-66.72 per dollar," he added.
The dollar index is currently up 0.25 percent at 96.11 against a basket of six currencies.
Oil prices edged higher in quiet Asian early trade as dealers set aside weak Chinese trade data and looked ahead to the release of a US stockpiles report, analysts said.


Latest News  from Business News Desk