Indian Currency Closes At 4 Month High Versus USD

Indian Currency Closes At 4 Month High Versus USDIndian rupee on Friday surged to a four-month peak at 45.83 versus the US currency, gaining 31 paise on the back of continued capital inflows from foreign funds.

Dealers at the Interbank Foreign Exchange (FOREX) made this declaration.

With this, the domestic unit has gained 60 paise during the three straight trading sessions.

Indian currency grew by 8 paise to 46.06 per US Dollar during the morning. The northward movement continued till the end of the session.

Finally, it marked its closure at 45.83 after surging 31 paise.

The Indian unit went on surging on account of strong equity market and feeble US currency versus major currencies.

The partially convertible Indian currency hit the day's peak and low at 46.12 and 45.82 against US currency.

The central banking institution (RBI) set the reference rate for the US Dollar at Rs 45.97, down by 33 paise versus its previous closure of 46.30.

Euro ended weak at 59.90 versus 60.37, Pound at 71.70 versus 72.06, whilst Yen remained lower at 53.50 versus 53.90.