Rupee reports best week in 2.5 years as $ struggles

A weaker dollar, portfolio inflows should provide near-term support

- AGENCIES Mumbai, June 25

THE RUPEE HAD its best week since January 2023, as an Iran-Israel ceasefire cooled oil prices and sapped safe-haven dollar demand, while worries over the Federal Reserve's future independence added pressure on the greenback.

The rupee gained 1.3% on the week, its best performance in two-and-a-half years, to close at 85.4750 per US dollar on Friday, rising 24 paise over the previous close. The domestic unit rose 36 paise to close at 85.72 against the US dollar on Thursday.