WEEKLY CURRENCY REPORT:RUPEE STRENGTHENS ACROSS THE WEEK AGAINST US DOLLAR

On a weekly basis, the rupee appreciated 24 paise against the US dollar. USD/INR touched low at 72.63 and high at 73.29. The rupee on Monday closed down by 22 paise at 73.25 against the US dollar as rising crude oil prices and strengthening of the American currency in the overseas market weighed on investor sentiment. The rupee strengthened by 34 paise to end at 72.92 against the US dollar on Tuesday, supported by positive domestic equities and weakening of the American currency in the overseas market. Indian rupee ended flat with positive bias at 72.91 per dollar on Wednesday, amid buying saw in the domestic equity market. As a sharp reversal was seen in domestic equities in the second half, the rupee recovered, appreciating further. Indian currency market was closed on Thursday due to Maha Shivaratri. Extending its gaining streak for the third day in a row, the Indian rupee advanced by another 13 paise to close at 72.79 against the US dollar on Friday amid some easing of crude oil prices.