The rupee strengthened for the seventh time in eight days after foreigners increased holdings of local stocks to a record this week to benefit from the nation’s economic recovery.
The rupee extended this year’s gains to 2.6 per cent, the third-best performance among the 10 most-active Asian currencies outside Japan, after overseas investors raised total ownership of Indian shares to $74.6 billion on March 8, according to exchange data. The rupee appreciated 0.6 per cent to 45.36 a dollar as of 5:00 pm in Mumbai.
