Strong inflows help push rupee to a six-month high
The rupee, which has been steadily appreciating in recent days, closed on Friday at 69.10 to a dollar, its highest level since August 10, 2018.
Strong inflow in both debt and equity segments helped the currency to hit a six-month high against the dollar. This is the fifth straight week the rupee has closed higher against the dollar.
After opening at 69.34 a dollar as compared to Thursday’s close of 69.35, the rupee went on to touch day’s high of 69.03 before closing at 69.10, up about 26 paisa or 0.37%.
According to provisional figures, foreign portfolio investors (FPIs) were net buyers in equities at ₹4,323 crore on Friday.