New Delhi, Jan. 4 -- The Indian rupee hit a fresh four-month high on Monday to strengthen past the 73-per-dollar mark after the government approved emergency use of covid vaccines by Serum Institute and Bharat Biotech.

The domestic currency also gained due to continued inflows by foreign investors in local equities and debt markets, and a fall in dollar index. Worries over global growth recovery on rising infections weakened the dollar today.

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The local unit today opened at 72.93 and hit a high of Rs.72.90 a dollar -- a level last seen on 2 September. At 11.57am, the currency was at 72.99 a dollar, up 0.15% from previous close. The rupee has gained in seven out of eight sessions and a...