Rupee Surges 27 Paise At Four Month High Of 69.58 Against Dollar
Mumbai: The Indian Rupee on Friday strengthened by 27 paise to close at a four-month high of 69.58 against the US Dollar. The domestic unit continued its upward surge and gained strength due to falling global crude oil prices and stock market.
The rupee opened higher at 69.68 and later gained momentum to reach 69.57 against the American unit. On Thursday, the rupee had surged by 77 paise at 69.58 per US Dollar. The domestic unit witnessed a surge despite the strong position of US Dollar overseas.
Traders opined that sustained inflow of foreign funds, falling global crude oil prices and swift recovery in domestic equity market helped the rupee strengthen its position against dollar.