Mumbai: The rupee appreciated 12 paise against the US dollar to end at an over six-and-a-half month closing peak of 60.77, buoyed by sustained FII inflows.
Continued dollar selling by exporters also aided the rupee's upward journey for the second session in a row.
"I certainly believe...the economy has stabilised and that is reflected in rupee and stock markets. And going forward, I think, we will see growth numbers also improving," Economic Affairs Secretary Arvind Mayaram said in Delhi.
Overseas funds pumped in over Rs 1,465 crore in Indian equities today.
The Indian market has been strong in the current year, aided by robust FII flows and optimism related to general elections," said Sanjeev Zarbade, Vice President - Private Client Group Research, Kotak Securities.
Foreign institutional investors have pumped funds worth over Rs 22,000 crore (USD 3.6 billion) in March so far. These investments helped the Sensex jump over 4 per cent and the rupee about 2 per cent in the month.
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