RBI measures push rupee above 90-mark

THE RUPEE POSTED its strongest single-day gain in over three years on Friday, rising above the 90-per-dollar mark late in the session, as the central bank intervened to shore up the currency and curb speculative bets, traders said.

- JASPREET KALRA

The currency had slipped to a record low earlier this week on a lingering trade impasse with the US and persistent portfolio outflows, but the central bank's interventions have led to a 2% rise from the trough.

The rupee closed at 89.27 per dollar, rising more than 1% on the day. It also gained the most week-on-week since June with an advance of 1.2%.