MUMBAI: The rupee rose 41 paise to 85.67 (provisional) against the US dollar on Thursday on the back of a sharp drop in the greenback and a strong show in the domestic equity markets amid rise in risk appetite.
The rupee extended its gains supported by a rise in risk appetite in global markets after the announcement of a ceasefire between Iran and Israel, forex traders said.
Domestic markets rose by around a per cent each, while the US Dollar fell towards the 97 mark. Moreover, the broad decline in crude oil prices too favoured the domestic currency.
