Rupee buoyant this week against US dollar; stays over 66-mark
The Indian rupee ended at 66.620 down by 0.292 or 0.44% against the American currency on Friday.
The Indian rupee remained buoyant in this week against US dollar benchmark indices, before ending at 66.620 down by 0.292 or 0.44% against the American currency on Friday. The performance of rupee was triggered by dollar selling by exporters and a stellar rally in local equities. This was despite, overall forex sentiment remaining on a cautious note on the back of rising crude prices and amid concerns over fiscal balance.
This week the domestic currency clocked to a fresh 14-month low of 66.92 against US dollar on Wednesday, before witnessing some recovery. The rupee has been trading over 66-mark per dollar for seven consecutive day.
Meanwhile, the American currency, which measures the greenback's value against a basket of six major currencies, was higher at 91.71.
In the cross currency trade, the rupee surged further against the pound sterling to end at 91.82 from overnight close of 93.24 and hardened against the euro to settle at 80.54 as compared with 81.32 earlier, reported by PTI.
Meanwhile, the benchmark Sensex index finished at 34,969.70 above a whopping 256.10 points or 0.74%, whereas the Nifty 50 closed at 10,692.30 up by 74.50 points or 0.70%.
On Friday, the foreign portfolio investors (FPI) made an outflow of Rs 2,606.20 crore together in equity, debt and hybrid market, as per NSDL data.