Re rises for 3rd day against $

Continuing its upward march for the third straight day, the rupee on Friday jumped by 28 paise to settle at over one-week high of 54.28 on robust capital inflows and sustained dollar selling by exporters and banks.

The rupee resumed better at 54.52 a dollar from previous close of 54.56 at the Interbank Foreign Exchange (Forex) market and immediately touched a low of 54.56.

However, the local currency later rallied to a high of 54.27 before concluding at 54.28, a rise of 28 paise or 0.51 per cent. In three days, rupee has spurted by 64 paise or 1.17 per cent.

The dollar index was trading nearly stable with upward bias ahead of key US jobs data. The outlook for capital inflows remains favourable with more PSU share sales expected to hit the markets this month, bankers said.

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