Mumbai, Oct 29 (PTI) For the second successive trading session, the Indian rupee today spurted by 21 paise to close at 49.67/68 against the greenback following dollar selling by some banks amid lack of any major buying by oil refiners. The rupee also moved erratically in tandem with the local stock market where the Indian benchmark Sensex ended up by 36.43 points or 0.40 per cent today. Expectations of fresh capital inflows after overnight strong turnaround in equity markets also weighed on the rupee. In a fairly volatile trade at the Interbank Foreign Exchange (Forex) market, the domestic unit opened sharply higher at 49.65/66 from last close of 49.88/89 a dollar. But the month-end dollar demand from oil refiners and importers kept the check on the rupee and it fell back to a low of 49.88 a dollar. However, It recovered later sharply to a high of 49.62 before concluding the day at 49.67/68 a dollar. According to dealers, an aggressive intervention by the central bank in the last couple of days to stem the rupee fall also helped the rupee rise. On Monday, the local currency had touched a new record low level of 50.26 in intra-trade. The rupee had been consistent under pressure from sustained selling by Foreign Institutional Investors (FIIs) in the equity market. Meanwhile, the dollar was mixed in Asian trade today and global crude oil prices were hovering near USD 65 a barrel. PTI

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