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PTI
Mumbai
Steering its spectacular run for the third straight session, the Indian rupee on Friday surged by 27 paise to hit a fresh one-month high of 63.78 against the dollar as the beleaguered US currency continued its incessant free-fall worldwide.
This was the best close for the domestic currency seen since August 8, when it had settled at 63.63 per dollar.
A massive unwinding of dollar long positions by exporters and corporates predominantly lifted the rupee sentiment, also backed by extremely bearish dollar overseas undertone.
Continued optimism of fund inflows against the backdrop of improving macro-economic environment also supplemented the rally.
The broad-based US dollar sell-off remained a key theme during forex session on Friday.
Maintaining its stellar momentum, it rallied strongly throughout the day and finished at 63.78, a sharp gain of 27 paise, or 0.42 percent. On a weekly basis, the rupee appreciated by a good 24 paise against the US currency.
The RBI, meanwhile, fixed the reference rate for the dollar at 63.8664 and for the euro at 77.0357.
The dollar index, which measures the greenback's value against a basket of six major currencies, was sharply down at 91.15 - the lowest level since January 2015.
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09/09/2017
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