Rupee gains further, opens 22 paise higher against US dollar

The domestic unit on Tuesday strengthened by 48 paise to close at one-month high of 70.70 against the dollar.

Extending its gains, the rupee on Wednesday opened 22 paise higher at 70.48 against the US dollar. The domestic unit on Tuesday strengthened by 48 paise to close at one-month high of 70.70 against the greenback. It was the sixth straight session of gains for the currency. 

In the six trading sessions, the rupee has gained 110 paise. Optimism ahead of index of industrial production (IIP) numbers for December and retail inflation for January supported the rupee on Tuesday, PTI reported quoting analysts.

Official data showed India's retail inflation eased to a 19-month low of 2.05 per cent on lower