Indian Rupee Posts Best Week In Months on Foreign Fund Inflows

The rupee closed at 81.93 per US dollar on Friday, compared to the previous close of 82.1750. Although it reached a five-week high of 81.8675 during intraday trading, importers hedging their positions prevented sustained gains. Furthermore, stop loss-related dollar sales contributed to the rupee's rise. Foreign investors also played a role in the rupee's performance, with approximately $800 million invested in local shares over the past four sessions.