Rupee spikes to 45.52 against dollar

The rupee strengthened by 13 paise to 45.52 against the US dollar at the Interbank Foreign Exchange against the backdrop of government raising the cap on foreign institutional investments in government and corporate debt by USD 5 billion each.

Forex dealers attributed the gain to the government8217;s move to increase the current limit of FIIs investment in government securities to USD 10 billion in corporate bonds to USD 20 billion.

However,month-end demand of dollar capped the rupee gains.

The rupee had ended 7 paise lower at Rs 45.65/66 against the dollar in the previous session.

Meanwhile,the Bombay Stock Exchange index Sensex fell by 27.49 points to 19,833.52 points in the morning trade on Friday.