News > Rupee strengthens after nearing Rs 84 mark as RBI intervention seen possible

Rupee strengthens after nearing Rs 84 mark as RBI intervention seen possible

The Indian rupee strengthened against the US dollar, amid expectations of likely dollar selling by the Reserve Bank of India to support the rupee after its steep fall in the previous session. A flat oil price, too, supported the rupee demand. The local currency appreciated 7 paise to open at Rs 83.89 against the US dollar. The currency closed at Rs 83.96 on Tuesday after depreciating nearly 12 paise in the previous session as foreign institutions offloaded Indian stocks.