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The Economic Times

Business

Rupee rises 14 paise to close at 94.59 against US dollar

United States US Dollar Anuj Choudhary India

The rupee extended its gaining momentum for the fifth straight session on Thursday, appreciating 14 paise to close at 94.59 (provisional) against the US dollar, buoyed by the country's improved balance of payment condition following higher-than-expected foreign currency deposits.

India mobilised a record USD 127.23 billion through FCNR (B), or foreign currency non-resident (bank) deposits under a special central bank programme aimed at bolstering the country's foreign-exchange liquidity.

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