Tracking strong performance in Indian stocks, the rupee today appreciated 12 paise against the US dollar to end at an over six-and-a-half month closing peak of 60.77 buoyed by sustained capital inflows. Continued dollar selling by exporters also aided the rupee’s upward journey for the second session in a row even as the dollar index was trading up 0.14 per cent against a basket of six major global currencies. Overseas funds pumped in over Rs 1,465 crore in Indian equities today, helping benchmark indices hit fresh highs. At the Interbank Foreign Exchange (Forex) market, the rupee resumed slightly lower at 60.92 a dollar from last weekend’s close of 60.89. While it touched a low of 60.93 soon after, a strong recovery mirroring jump in Indian shares pushed the rupee to a intra-day high of 60.6450. It settled for the day at 6-1/2-month high of 60.77, a rise of 12 paise or 0.20 per cent. Last Friday, it shot up by 0.73 per cent. The rupee had last closed at 60.77 on August 6, 2013. Pramit Brahmbhatt, CEO, Alpari Financial Services, (India) said: “Rupee appreciated today taking cues from the strong local equities which closed at record highs. The gain was capped by the dollar index which is trading positively.”
