Mumbai: The Indian currency closed stronger on Friday, in line with other Asian currencies, as foreign investors continued to pour money into the emerging markets stocks.
Foreign banks and exporters were seen selling dollars, adding to the strength of rupee, said currency dealers.
Rupee was the strongest currency in the region, followed by Singapore dollar and Indonesian Rupiah. The domestic currency closed at 60.925 a dollar, up 0.67% from its previous close. It had opened at 61.195 a dollar against its Thursday’s close of 61.3325.
So far this year, the rupee has gained 1.44% while foreign institutional investors have bought local equities worth $1.76 billion in the Indian market.
The benchmark equity index, Sensex, ended at 21753.75 points, up 0.06%.
The yield on the 10-year benchmark bond ended at 8.795%, compared with its Thursday’s close of 8.821%.
The dollar index, which measures the US currency’s strength against major currencies, was trading at 80.129, down 0.08% from the previous close of 80.192.
