MUMBAI: Rising for the fifth day in a row, the rupee Monday appreciated 22 paise against the US dollar to end at an over seven-month high level of 60.85 on heavy capital inflows into equities that surged to a fresh record. Sustained dollar selling by exporters and some banks also aided the rupee sentiment, limiting the impact of the US dollar’s gain in overseas markets.
Foreign Institutional Investors bought shares worth Rs 1,253.65 crore today as per provisional stock exchange data. The rupee commenced lower at 61.26 a dollar from last weekend’s close of 61.07 at the Interbank Foreign Exchange (Forex) market. With equities facing a choppy initial session, the rupee also touched a low of 61.34. —PTI