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Rupee posts first weekly gain in four against the US dollar

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The Indian rupee today settled higher as foreign fund inflows and weak American currency boosted investor confidence even as coronavirus cases in India continued to rise at a sharp pace.

The rupee opened higher at 75.71 at the interbank forex market and later touched a high of 75.48 in day trade. The local unit finally settled at 75.62 to the US dollar, showing a gain of 14 paise over the last close of 75.76.

Indian stocks rose for a third straight session on Friday on the back of buying by foreign funds. The 30-share BSE index rebounded from the lows to settle 223.51 points or 0.69 per cent higher at 32,424.10.

NSE Nifty advanced 90.20 points or 0.95 per cent to 9,580.30. Foreign institutional investors were net buyers in the capital

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