The rupee rose the most in two weeks on Friday to gain 0.5 per cent for the week on the back of strong foreign flows into domestic markets even as other emerging Asian currencies shook over concerns about US interest rates and China's weakening yuan.
Foreign funds have poured in $3.8 billion in domestic equities and bonds in March, sending indexes to record highs on Tuesday.The improving domestic economy has also played a role, given easing inflation and a sharply narrower current account deficit.
The partially convertible rupee closed at 60.895/905 per dollar, stronger than Thursday's close of 61.34/35, scoring a third weekly gain in four. It gained 0.7 per cent in the session - its biggest daily gain since March 6.
In the offshore non-deliverable forwards, the one-month contract was at 61.41 while the three-month was at 62.14.
Foreign funds have poured in $3.8 billion in domestic equities and bonds in March, sending indexes to record highs on Tuesday.The improving domestic economy has also played a role, given easing inflation and a sharply narrower current account deficit.
The partially convertible rupee closed at 60.895/905 per dollar, stronger than Thursday's close of 61.34/35, scoring a third weekly gain in four. It gained 0.7 per cent in the session - its biggest daily gain since March 6.
In the offshore non-deliverable forwards, the one-month contract was at 61.41 while the three-month was at 62.14.