Indian rupee strengthened past 70/dollar mark for first time in two months, gaining for third session against US dollar on continued inflows from foreign investors in local equity markets.
Easing of geopolitical tensions and gains in other Asian currencies also supported the rupee.
At 9.20 am, the rupee was trading at 69.95 a dollar, up 0.47% from its previous close of 70.28. The home currency opened at 70.09 a dollar and touched a high of 69.96 – a level last seen on 8 January.
Foreign institutional investors (FIIs) bought $2.37 billion in equity in February, their biggest purchase since November 2017, according to data compiled by the Securities and Exchange Board of India (Sebi).