March 7, 2014 / 4:12 AM / 4 years ago

Indian rupee gains past 61/dollar as shares hit record high

MUMBAI, March 7 (Reuters) - The Indian rupee strengthened above 61 to the dollar to a near three-month high on Friday after foreign investors posted their biggest daily purchases of shares this year in the previous session, sending both the BSE and NSE indexes to record highs.

The partially convertible currency rose to 60.95 to the dollar, a level last seen Dec 9. It was last changing hands at 60.95/96 versus Thursday’s close of 61.11/12.

India’s NSE index rose as much as 0.8 percent to hit a record high, while the benchmark BSE index hit the milestone for a second consecutive session.

Overseas investors bought Indian shares worth 12.73 billion rupees ($207.8 million) on Thursday, their biggest daily purchase since Dec. 19, extended their buying streak to a 15th straight day. (Reporting by Subhadip Sircar; Editing by Rafael Nam)

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