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MUMBAI - The rupee rose to its strongest close in more than a month as the share market extended a winning streak into a sixth session on Thursday, raising expectations of sustained capital inflows that would support the currency.
The partially convertible rupee ended at 50.00/02 per dollar, its strongest close since Feb. 25, having risen to 49.85 during trade, according to Thomson Reuters data
It had ended at 50.19/20 on Wednesday. The market will be closed on Friday for a holiday.
"With stocks remaining in positive territory at the close of trading, It was a sentiment-driven rise for the rupee," a trader with a state-run bank, said.
"But, there was dollar buying by a public sector bank, which could be for a defence-related payment. This cut the day's gains for the rupee," he added.
Indian shares rose 0.6 percent on Thursday to a six-month closing high. The benchmark 30-share BSE index has risen 12.9 percent in six sessions, and is up over 34 percent from its 2009 low hit on March 6.
Godrej Consumer Products (GCP) on Saturday said it has agreed to buy personal care company Tura from Nigeria's Tura Group.
Police in Mumbai said on Sunday they have arrested two men they say were prepari...
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