Rupee claws back from 2-year low, gains 17 p to end at 66.92 per dollar

MUMBAI: Breaking a two-day slide, the rupee on Tuesday clawed back from an over twoyear low to close at 66.92 against the dollar amid a rise in equities.

A cautious tone largely dominated trading sentiment ahead of most-awaited event of the year — Federal Reserve’s widely anticipated monetary policy announcement and also collapsing energy prices.

The home currency had plunged to hit a 27-month low of 67.09 on Monday.

In active trade at the Interbank Foreign Exchange (Forex) market, the domestic unit resumed better at 67.03 from overnight close of 67.09 on mild dollar selling.

It largely fluctuated between a high of 66.92 and a low of 67.12 throughout the day, due to uneven dollar demand and supply.

Meanwhile, firm buying in late afternoon helped shares to record gains for a second straight session as domestic investors shrugged off a widely anticipated US rate hike while defensive buying in oil counters offset selling in banking stocks.

The 30-share Sensex settled at 25,320.44, posting a gain of 170.09 points, or 0.68%, over its previous close.

The broader NSE Nifty reclaimed the key 7,700-mark to end at 7,700.90, up 50.85 points, or 0.66%.