Analysts say easing of crude oil prices augurs well for the rupee The rupee jumped by 112 paise against the dollar on Tuesday, marking its strongest single-day gain against the greenback in more than five years.
The rupee also logged its highest closing level since November 30.
A sharp fall in oil prices, easing concerns on the current account deficit front, and weakness in the dollar overseas boosted the rupee, say analysts.
Tuesday's gain of 1.6 per cent helped the rupee register its best single-day jump since September 19, 2013, when it had surged by 161 paise against the dollar.