Rupee rises for fifth day, rallies to 6-week high

Mumbai: The rupee strengthened for the fifth consecutive session to end at 94.33 on Thursday, versus its previous close of 94.52 per dollar. The rupee opened at 94.66, and later strengthened to an intraday high of 94.16, which prompted the Reserve Bank of India to intervene and absorb dollars. Its weakest level on Thursday was at 94.70 per dollar.

Brent crude oil prices below $78 per barrel and unwinding of long dollar positions helped the currency gain to a six week high, traders said.