In the period of two months, Indian rupee on Thursday strengthened past 70 per dollar mark, inflows from foreign investors in the local market helped to gain for the third session against the US dollar. Also, relieving of geopolitical rigidity and gains in other Asian currencies supported the rupee.
In its previous close rupee was trading at 70.28 a dollar, however, at 09:20 am the rupee traded at 69.95 a dollar, was 0.47 per cent up from its previous close, whereas, rupee traded at 69.96 a dollar was a level last seen on 8 January.
FIIs bought 2.37 billion dollars in equity in February was their biggest purchase since November 2017, heeding to data compiled by SEBI. Also, the hopes of RBI rate cuts boosted the sentiment in slowing economic growth.
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