Rupee at near 1-month peak on dollar weakness

The Indian rupee strengthened to its highest level in nearly a month today afternoon boosted by the dollar's sharp losses against major currencies and some gains in the local sharemarket.

The Indian rupee strengthened to its highest level in nearly a month on Thursday afternoon boosted by the dollar's sharp losses against major currencies and some gains in the local sharemarket.

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At 3:57 p.m. (1027 GMT), the partially convertible rupee was at 46.57/58 per dollar, after hitting 46.52, its strongest since July 2 and above its previous close of 46.75/76.

The index of the dollar <.DXY> against six major currencies <.DXY> was down 0.7 percent.