Rupee strengthens to over one-month high on FPI flows, weak dollar

Indian currency at 1-month high on FPI flows, weak dollar

The rupee notched up firm gains against the dollar on Wednesday, closing at its strongest level since September 30, as weakness in the greenback ahead of the results of US midterm elections and resumption of overseas investment in stocks bolstered the local currency.

The rupee settled at 81.43 per US dollar as against 81.92 per dollar at previous close. So far, in the current calendar year, the rupee has depreciated 8.7 per cent against the US dollar.

With the US dollar index taking a tumble late last week, the rupee has enjoyed a strong run against the greenback, gaining 1.8