Mumbai: The Indian rupee turned stronger by 20paise to end at 47.90/91 against the dollar today as the US currency weakened against major world currencies in Asian trade.
The domestic currency touched a two-week trading high of 47.80 but failed to sustain elevated levels as local stocks fell in afternoon trade, stroking fears of capital outflows.
In active trade at the interbank foreign exchange (forex) market, the Indian unit moved in a range of 47.80 and 48.06 during the day after resuming at 47.95/97 a dollar against its last close of 48.10/11 a dollar.
Forex dealers said there was good capital inflow in the last couple of days in equity markets amid dollar demand from oil refiners petering out as global oil prices firmed up.
The dollar weakened against a basket of currencies in London as the global economy showed signs of stability.
The Indian Sensex tumbled by 292 points or 1.97% while Asian indices closed mixed today.
Global oil prices were traded above $73 a barrel level in Asian trade.