The rupee snapped its three-day losing streak to close 17 paise higher at 68 rupees and 80 paise against the US dollar as market participants pinned their hopes on an aggressive rate cut by the US Federal Reserve later this month.

Forex traders said the rupee along with most Asian currencies strengthened following dovish comments from New York Fed officials, offsetting the impact of soaring crude oil prices amid fresh geopolitical tensions in West Asia.