The Indian currency gained 0.66% against the US dollar for the week ended Friday, April 10 to stand at 50 as compared to 50.33 during the last week’s closure on April 3 mainly because of the strong rally in local equities and firm US unit.

Rupee, on Monday, went up on the back of sharp gains in the local equities that lifted up the hopes of the foreign fund inflows, but reduced its gains as refiners bought US units.

The partially convertible Indian currency marked its closure 0.6% stronger at 50.04/05 against USD than Thursday`s close of 50.33/35.

It also hit intraday high of 49.88, its strongest since late February.

Afterward, on Wednesday, rupee came down as banking institutions cover short rupee positions whereas local equities pick up.

Finally, it settled at 50.19/20 as compared to greenback dollar weaker than Monday`s closure of 50.04/05. It touched an intraday low of 50.67; its weakest since April 1.

At the end of the week, on Thursday, rupee appreciated to its more than one month highs owing to gains in the local equities for six successive days that lifted the expectations for continued fund inflows that would back up the currency.

Rupee settled at 50.00/02 against US dollar, its strongest close since February 25. It had an intraday high of 49.85.