The rupee strengthened to its highest level in three weeks on Friday, rising for a second straight week, tracking gains in the domestic share market and following a sharper-than-expected fall in wholesale price inflation.
Traders broadly expect the rupee to continue to trade in a 62 to 63 per dollar range next week, barring any major surprises in the budget.
The partially convertible rupee closed at 61.925/935 per dollar, after hitting 61.92 - its strongest since January 23 and up 0.8 per cent on the day. This is the currency's biggest single-day gain since January 28 when it rose 0.9 per cent.
The unit closed at 62.42/43 on Thursday. On the week, the rupee rose 0.6 per cent, its second straight weekly gain.
Gains in other Asian currencies following the weak US sales data which has raised some expectations for a slower wind-down of the US monetary stimulus also aided the rupee.
In the offshore non-deliverable forwards, the one-month contract was at 62.24 while the three-month was at 63.12.
Traders broadly expect the rupee to continue to trade in a 62 to 63 per dollar range next week, barring any major surprises in the budget.
The partially convertible rupee closed at 61.925/935 per dollar, after hitting 61.92 - its strongest since January 23 and up 0.8 per cent on the day. This is the currency's biggest single-day gain since January 28 when it rose 0.9 per cent.
The unit closed at 62.42/43 on Thursday. On the week, the rupee rose 0.6 per cent, its second straight weekly gain.
Gains in other Asian currencies following the weak US sales data which has raised some expectations for a slower wind-down of the US monetary stimulus also aided the rupee.
In the offshore non-deliverable forwards, the one-month contract was at 62.24 while the three-month was at 63.12.