The Indian currency on Tuesday closed 1.9 per cent higher against the US dollar at 47.72. During the day, it rose to 47.25—the most in a decade—as the stock markets extended its gains and some FII inflows into India.
FIIs were net buyers $188.8 million in equity on November 3.
The rupee had closed at 48.58 on Monday. Despite a rally today, Macquarie expects rupee to remain weak against the US dollar in the near term.
