MUMBAI: The rupee hit a two-month high to shut at 83.10 within the international alternate market on Friday, up 14 paise from its earlier shut of 83.24.
The rupee gained practically 0.3 per cent this week – its largest weekly acquire in over 5 months. Dealers mentioned that the forex gained as there have been some chunky inflows of {dollars} within the international alternate market.Market sentiment additionally improved after the latest surge in fairness indices, which got here on the again of an announcement of a file Rs 2.1 lakh crore dividend by RBI to govt. The delayed response to the information was as a result of international alternate markets had been closed on Thursday due to Buddha Purnima.
“Despite the dollar index trading higher in recent days, the rupee showed resilience due to significant economic development in India,” mentioned Jateen Trivedi, analysis analyst at LKP Securities.
