Rupee surges 64 paise against US dollar, its best since Feb

THE RUPEE JUMPED 64 paise or 0.74% to close at 86.0537 against the US dollar on Friday, recording its biggest gain in two months, tracking gains in major Asian currencies as the dollar index fell to a nearly two-year low.

- SACHIN KUMAR

THE RUPEE JUMPED 64 paise or 0.74% to close at 86.0537 against the US dollar on Friday, recording its biggest gain in two months, tracking gains in major Asian currencies as the dollar index fell to a nearly two-year low. The local currency was also supported by a strong gain in the equity market. The rupee had gained 65 paise on February 11. However, on the weekly basis, the rupee has weakened by 0.9%.

The rupee surged 64 paise, or 0.74%, to close at 86.0537 against the US dollar on Friday—its biggest single-day gain in two months—tracking strength in major Asian currencies as the dollar index fell to a near two-year low. The rally was also supported by strong gains in the equity market. The rupee had previously gained 65 paise on February 11. However, on a weekly basis, it still ended 0.9% lower.