The rupee on Friday surged 45 paise, its biggest daily gain in two weeks, to end at 60.89 versus the U.S. dollar on massive capital inflows linked to the government stake sale in Axis Bank.
After suffering its worst loss in two months on Thursday, the rupee’s recovery on Friday was also aided by fresh dollar selling by exporters and some banks on the back of a weak American currency overseas, said forex traders.
The dollar index was down 0.07 per cent against a basket of six major global currencies.
At the inter-bank foreign exchange market, the rupee resumed higher at 61.15 a dollar from the last close of 61.34, but declined to a low of 61.25. Later, it rebounded to settle at the day’s high of 60.89, showing a rise of 45 paise.
On Thursday, it had dipped by 39 paise.
For the week, the rupee rose 30 paise against dollar.
After rising over 130 points, the S&P BSE Sensex on Friday surrendered most of its initial gains to end with a mere 13.66-point rise to 21753.75 on selling in RIL and ONGC.
Rise in Tata Motors, Axis Bank, Tata Steel, Wipro, TCS, ITC and Hindalco scrips helped the index end in the green.
The NSE 50-share CNX Nifty also ended with a marginal gain of 10.10 points at 6493.20. — PTI