MUMBAI The rupee rose to a two-week high on Friday, notching up a second consecutive week of gains, helped by inflows tied to a domestic share sale and by a weaker dollar after strong US data raised chances of an early retreat from monetary easing.
The partially convertible rupee closed at 54.02/03 per dollar versus its previous close of 54.355/365.
It rose to 53.97 in the session, the highest level since February 28. The rupee gained 0.6 per cent on the day. For the week, it rose 0.5 per cent.
Broader gains were capped after a Standard & Poor’s analyst said the slowdown in India’s growth was less supportive for the country’s sovereign credit ratings.
