Mumbai: The closed stronger at 95.59 on Tuesday, amid a pull back in oil prices and dollar sales by the central bank, traders said. dropped to $98 per barrel, easing pressure on the currency which had previously closed at 95.81.



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The currency traded in the range of 95.58 and 95.86, with the central bank selling dollars at weaker levels. The rupee saw a choppy session as state-run banks sold dollars while corporate demand for the greenback provided a counterforce, creating a push-and-pull dynamic in the market.



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"Gains earlier during the day were supported by dollar sales by the RBI, and later corporate dollar demand again wiped these gains. The then intervened around 95.85 levels and kept a lid on further weakness," said Anil Bhansali, head of treasury, Finrex Treasury Advisors.