The Indian rupee appreciated marginally 0.44% against the US dollar for the week ended Friday, July 3 to stand at 47.89 after fluctuating throughout the week as against previous week`s close on Friday, June 26 at 48.10.

At the beginning of the week, on Monday, June 29, Indian rupee ended steady but off intraday lows on foreign institutional investors (FII) inflows and dollar sales by exporters. But, some importers bought dollars to meet month-end demands. The partially convertible rupee ended flat at 48.10/11 against the US dollar as its previous close.

Thereafter, on Tuesday, June 30, rupee appreciated on account of weaker US unit against the other major currencies overseas. Rupee ended 20 paise stronger to stand at 47.90/91 against the US dollar as against its previous close 48.10/11.

In the mid-week on Wednesday, July 1 rupee appreciated on the account of gains in the local equities which raised the expectations of fresh inflows. The weaker US unit against the major currencies overseas also helped the market sentiment. Rupee settled at 47.88/90 against USD, stronger than the previous close of 47.90/91. It had an intraday trough of 48.14.

Thereafter, on Thursday, July 2 rupee depreciated on account of stronger US unit against other major currencies overseas. Choppy local equities ahead of next week`s budget also supported the market sentiment. it settled at 47.95/96 against greenback than its Wednesday`s close of 47.88/90. It had an intraday high of 47.74, it`s highest since June 16.

Finally, at the last day of the week, on Friday, July 3 rupee appreciated on hopes of persistent capital inflow from foreign institutional investors (FIIs) with a view of gains in local equities. The partially convertible rupee settled marginally stronger at 47.89/91 against greenback than its Wednesday`s close of 47.95/96. It had an intraday high of 48.19.

The Sensex ended the day with a gain of 254.56 points, or 1.74% at 14,913.05 after touching a high of 14,945.85 and a low of 14,499.74. The broad-based NSE Nifty climbed 75.40 points, or 1.73% at 4,424.25 after hitting a high of 4,434.45 and a low of 4,298.95.