Rupee closes 93.90 per US dollar, Asia top weekly gainer
Business
The Indian rupee just made a strong comeback, closing at 93.90 to the US dollar this Friday.
That's a big jump from its low of 96.96 in late May, making it Asia's top-performing currency for the week.
₹28,000 cr invested this week
A huge wave of foreign investment, almost $4 billion, has flowed into Indian stocks lately, with investors putting in over ₹28,000 crore just this week.
Falling oil prices and hedging by exporters also helped boost confidence in the rupee.
Rupee about 1% as RBI monitors
Even with this recent rise, the rupee has only gained about 1% in the current financial year.
The RBI is still keeping a close eye on things to help keep the currency steady going forward.