Fuelled by capital inflows amid a favourable outcome from key domestic and global events, the rupee gained the most as compared to other Asian currencies on Friday. While the latter took advantage of global dollar weakening, the Indian currency had many other reasons to celebrate. The rupee on Friday jumped to a four-month high of 54.31 from 55.42 against the dollar in its previous close. It registered the highest single session gain of two per cent in 11 weeks. Data from the Bombay Stock Exchange showed foreign institutional investors had net-invested Rs 2,833 crore in Indian equity markets, the latter rallying 2.5 per cent.
Source: Business Standard
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