Rupee Surges: Biggest Weekly Gain in Six Months on FPI Inflows, RBI Action

• Indian Rupee recorded its largest weekly gain in six months, closing at 89.65 against the US dollar.
• The currency strengthened by 60 paise on Friday, marking a 1.5% rebound from its record low of 91.03 on December 16.
• The Reserve Bank of India intervened forcefully, selling dollars in late trading to support the rupee.
• Foreign portfolio investors (FPIs) turned net buyers for the third consecutive day, injecting $700 million into Indian equities.
• Despite being Asia's worst-performing currency this year, analysts see improving Indian macro fundamentals supporting the rupee.

Why It Matters: Rupee sees significant weekly gain driven by FPI buying and strong RBI intervention.