So far this year, the rupee has gained 5.4%, while foreign institutional investors have bought $8.82 billion and $22.61 billion in equity and debt, respectively. On Tuesday, the rupee closed at a two-month high against the US dollar, tracking gains in the Asian currencies markets. The home currency closed at 64.41 a dollar, a level last seen on 20 September, up 0.14% from its previous close on Friday. So far this year, the rupee has gained 5.4%, while foreign institutional investors have bought $8.82 billion and $22.61 billion in equity and debt, respectively. The central bank has always maintained that it does not target any particular level for the rupee and it intervenes into the currency market only to curb excess volatility.

Source: Mint November 29, 2017 06:33 UTC