The Reserve Bank of India was also spotted buying dollars, continuing its pattern of intervention to prevent the rupee from gaining sharply as strong foreign flows helped send the NSE index to its record high for a third straight day.
The rupee rose 0.6 per cent for the week, posting its strongest gain since the week of May 16 that saw the election of Modi as prime minister, although the unit has ceded ground since hitting a three-week intraday high of 59.52 on Thursday.
The budget due to be presented on July 10 will be a key test of investors' faith in Modi and his Finance Minister Arun Jaitley, with markets expecting the government to deliver a fiscally
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