Strong inflows of foreign funds helped the rupee rise 33 paise to 85.4625 vs. the US dollar on Friday, its highest level in three months.
In addition, the domestic currency saw its largest monthly increase in more than six years in March, rising 2.17%, the most since November 2018. During the week, foreign portfolio investors (FPIs) net purchased stocks valued at Rs 18,130 crore.
The currency has decreased during the fiscal year, notwithstanding a monthly increase in March. In the current fiscal year, the rupee has lost 2.5 percent of its value. Since the currency began FY25 at 83.4037 per dollar, it has lost 206 paise in absolute terms.
Before hitting an intraday high of 85.4063, the rupee opened at 85.6628 on the interbank foreign exchange market. It recorded a gain of 0.38% at 85.4625 at the end of the day.
The US currency was up 0.09% at 104.43 on the dollar index, which compares the US dollar to a basket of six major currencies. Global oil benchmark Brent crude futures increased by 0.16% to 74.15 dollars per barrel.
