The rupee opened at 67.42 a dollar and touched a high of 67.39, a level last seen on 8 December 2016. Photo: MintMumbai: The Indian rupee on Thursday strengthened for the seventh consecutive session and hit eight week high against the US dollar tracking gains in the local equity and Asian currencies markets. The local currency opened at 67.42 a dollar and touched a high of 67.38, a level last seen on 8 December 2016. The rally in the rupee was also due to continued buying from foreign institutional investors (FIIs) in the local equity markets. Since the beginning of this year, the rupee has gained 0.6%, while FIIs have bought $4.7 million in local equity and sold $262 million in debt markets.

Source: Mint February 02, 2017 04:12 UTC