The Indian rupee rose to its strongest close in a month on Friday, lifted by gains in the stock market and some weakness in the dollar on concerns about the US economic outlook. The partially convertible rupee ended at 48.67/68 per dollar, gaining from Thursday's close of 48.77/78 to post its strongest close since January 9.
"The rupee strengthened because the dollar has gone weaker against the pound and euro. The stock market also ended higher today," a dealer with a private-sector company said. Dealers said banks and corporates were wary of taking fresh positions ahead of the interim budget on February 16.
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