USD/INR closed at Rs 69.6850 compared opening of Rs 69.65/$1. USD/INR ends up Tuesday on buying by nationalised banks likely on behalf of oil importers for their month-end dollar payments. Brent climbed above $70 a barrel and the dollar is strong amid political turmoil in Eurozone.

Crude oil prices surged backed by ongoing supply cuts led by OPEC and further supported by supply constraints caused by the US sanctions on Iran and Venezuela.Adding to that, fall in Russian oil production creating a supply glut, which is caused by a contamination issue further added to the rise in oil prices. Brent futures for July delivery traded at $70.05 a barrel.

Supporting the rise in the spot pair, the greenback edged higher against major counterparts as investors remain cautious after the European Union parliamentary elections showed a polarization of the 28-member block.

Two euro zone officials said that the European Commission is planning to start disciplinary steps against Italy on June 5 over the country's rising debt and structural deficit levels, which break European Union rules.

The dollar index, which tracks the movement of greenback against a basket of six major currencies, traded at 97.78 Tuesday compared to 97.72 at close of Indian market on Monday.



Sensex provisionally ends 103 points higher with 14 components in the green.