The rupee notched up further gains on Thursday, closing on the stronger side of 88 per USD mark, as the effect of RBI’s strong intervention the previous day lingered even as there seems to be a glimmer of hope about a positive outcome from the US-India trade talks.

The Indian currency closed at 87.82 per US dollar, nearly a one-month high. It was up about 25 paise on Thursday, over the previous close of 88.0750.

The rupee had logged its best single day gain (of about 73 paise) in almost four months on Wednesday, supported by strong central bank intervention and a weak dollar.

V Rama Chandra Reddy, Head – Treasury, Karur Vysya Bank, said the gains made by the rupee in the last two days almost offset the losses in the last one month or so.

“The rupee continuously depreciated from Septe

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