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Stretching its strong recovery momentum for the third straight day, the rupee on Friday rose by 4 paise to a fresh one-week high of 64.44 against the US dollar on sustained selling of the American currency by exporters. Despite bullish dollar sentiment overseas ahead of key US macro data release, the domestic unit showed abundant strength, largely helped by robust capital inflows into equity and debt markets.
However, stray dollar demand from importers and some caution by currency traders ahead of the RBI’s monetary policy meet next week restricted the rupee’s upmove. The RBI, meanwhile, fixed the reference rate for the dollar at 64.4208 and for the euro at 72.2673.
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