Mumbai, March 24 -- Indian rupee raced higher against the US dollar today, witnessing robust gains as local equities stayed firm. INR has erased most of the losses it has endured in 2025 following recent appreciation. The INR currently quotes up 40 paise at 85.57 against the US dollar following a sharp spike in last session. Indian rupee recorded a best week in over two years last week by rising over 1%. With the today's spurt, INR has neared a three month high. US dollar index is holding around 103.60 mark right now, coming off a five month low last week. Local currency has been well supported recently as Foreign Institutional Investors (FIIs) are coming into action after their latest selling spree in local stock markets. FIIs recorded t...