Rupee hits fresh high, up 95 paise against US dollar at 58.72

Extending its rising streak, the rupee appreciated by 95 paise at 10:15 am to trade at fresh high of 58.72 against the dollar in trade today on foreign capital inflows on expectations of stable government at the Centre.

The rupee had gained 39 paise to close at a nearly 10-month high of 59.29 against the dollar yesterday. Today, it gained further on sales of the US currency by banks and exporters.

Besides, strong opening of the domestic equity market which soared to an all-time high, dollar’s weakness against other currencies overseas also supported the local currency, forex dealers said.

Meanwhile, The S&P BSE Sensex which opened with a massive gap-up, surged as much as 1,448 points in trade on Friday to touch its fresh lifetime high of 25353.16.