The rupee firmed up 4 paise to 64 against the dollar on Wednesday, taking cues from a higher opening in the domestic stock market.
The U.S. currency lost muscle even as the Republican tax cut package moved closer to becoming a law.
In the opening session, the domestic unit went up 4 paise to 64 against the dollar. On Dec. 19, it had gained 20 paise to close at a three-month high of 64.04, building on the momentum after the BJP’s win in Gujarat and Himachal Pradesh Assembly polls.
The benchmark BSE Sensex on Wednesday hit an all-time high of 33,956.31 by rising 119.57 points, or 0.35%, and the Nifty scaled a new peak of 10,494.45, up 31.25 points, or 0.29%.
