A sustained foreign capital inflows into the equity market also boosted the domestic currency's value against the dollar, a forex dealer said.
The rupee opened today at 62.36 at the Interbank Foreign Exchange (Forex) market and hovered in a range of 62.28 and 62.40 per dollar before concluding at 62.30, showing a gain of six paise, or 0.10 per cent.
The domestic currency has gained by 21 paise, or 0.34 per cent, in the last two days.
The dollar index, a gauge of six major global rivals, was up by 0.46 per cent today.
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Pramit Brahmbhatt, Veracity group CEO, said, "The rupee traded range bound to slightly strong against the dollar and appreciated by almost 6 paise to close at 62.30, taking cues from the weak dollar index which is heading towards to post its third daily fall in a row and also the continuous dollar selling by exporters helped the rupee to trade strong."
Meanwhile, the benchmark 30-share Sensex dropped by 133.65 points, or 0.46 per cent.