Rupee ends at over 5-month high

MUMBAI: The Indian rupee closed at its strongest level in more than five months on Thursday, aided by an uptick in its Asian peers and on the back of dollar inflows into the domestic share and bond markets. The rupee settled at 82.84 to the US dollar, its highest closing level since Sept. 4 after having logged its biggest single-session gain in nearly two months. Throughout the day, the rupee traded in a range of 82.84 and 82.95, after closing at 82.97 in the previous session.

The brief outages on various London Stock Exchange Group (LSEG) news and currency trading platforms globally did not have a material impact on the rupee, traders said. “Overall, there is a higher potential for the rupee to rise above 82.80, given the robust foreign inflows. But the RBI’s (central bank) firm grip on the currency could limit any further upside,” said Amit Pabari, managing director at FX advisory firm CR Forex.