Rupee zooms 55 paise vs dollar
Rising for the third straight day, the rupee strengthened by 55 paise to settle at 73.57 against the US dollar on Friday, marking its biggest gain in over three weeks as global crude prices eased and domestic indices staged a smart rebound. At the interbank forex market, the rupee opened on a strong note at 73.84 from Thursday’s close of 74.12. It gained further ground to hit a high of 73.52 against the US dollar, driven by selling of the greenback by exporters and banks and easing crude oil prices. The domestic unit finally settled for the day at 73.57, up 55 paise. This is its biggest gain since September 19, when it had jumped 61 paise.