Rupee rises for 4th day, up 19 paise vs dollar

MUMBAI: The rupee appreciated 19 paise to close at 95.17 against the US dollar on Wednesday, registering the fourth straight session of gains, supported by RBI interventions designed to ease near-term dollar demand and limit speculative foreign exchange exposure.Forex traders said the Indian rupee rose to a one-month high on RBI's measures to curb speculative bets. A weak dollar and easing of US Treasury yields also aided the rupee. However, weak domestic markets capped sharp gains. At the interbank foreign exchange market, the rupee opened at 95.05 against the dollar and touched the intraday low of 94.76 against the greenback.On Tuesday, the rupee strengthened for the third straight session and appreciated 42 paise to close at 95.36. In the last four trading sessions, the rupee has gained 171 paise . "We expect the rupee to trade with a positive bias on RBI's intervention to curb excessive speculation in the rupee. A weak dollar and a decline in US Treasury yields may also support the rupee," an analyst said. AgenciesYou use AI every day. Now get your AI Quotient. Take the AIQ test.