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Rupee rises sharply for second straight day; up 43 paise per USD

Aug 28, 2020 15:25 IST

The rupee strengthened 43 paise to end at 73.39 against the US dollar on Friday supported by persistent foreign fund inflows. After opening on a flat note, the local unit touched an intra-day high of 73.29. This was the second strong session posted by the domestic currency in a row. On Thursday, the rupee surged 48 paise to end at 73.82. Sustained foreign fund inflows, positive domestic equities and a weak dollar index further boosted the local unit, forex traders said. Foreign institutional investors were net buyers in the capital market as they purchased shares worth ₹1,164 crore on Thursday, according to exchange data. A fall of 0.33% in the Brent crude futures also supported the Indian currency.