Rupee records best one-day rise against US dollar in nearly 4 months

Adani-related flows, weaker dollar index push Rs up to one-month high

The rupee strengthened sharply against the US dollar on Friday, registering its sharpest single-day rise since November 11, as overseas investors sold the greenback, largely for investment in Adani group shares, dealers said.

An easing in the US dollar index also boosted the Indian currency, which settled at its strongest level since February 3. On Friday, the rupee closed at 81.97 per US dollar as against 82.59 per US dollar on Thursday. So far in 2023, the Indian currency has appreciated 0.9 per cent versus the greenback.

US-based investment company GQG Partners purchased shares worth Rs 15,446 crore (around $1.9