II:Rupee climbs as risky bets resurface on euro deal
The rupee rallied on Friday, rising to its highest level in two weeks and set for its biggest weekly gain in two years, as global stocks surged in the wake of the eurozone deal to address the debt crisis.
The RBI's decision to hike key lending rate on Tuesday for the 13th time in the past one-and-a-half years also attracted investors to the partially-convertible Indian currency today.
At 12:37 pm (IST), the rupee was at 48.8575 per dollar after being as high as 48.7750 and as low as 48.9275. It had opened at 48.9050 as against the previous close of 49.5075.
The domestic markets were closed on Wednesday and Thursday on account of the Diwali festivals.
