The rupee had closed nearly unchanged at 73.57 against the dollar on TuesdayMumbai: The rupee gained by 41 paise to end at 73.16 against the dollar on Wednesday, the highest closing level since October 1.
Selling of the dollar by banks and exporters amid easing of crude oil prices along with a bounce-back in the domestic equity markets supported the rupee, say analysts.
The rupee touched an intraday high of 73.09 during the session, before settling at 73.16 for the day.
Despite Wednesday's gain, the rupee is still down more than 14 per cent so far this year.