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Rupee Gains for Fifth Day, Rises to 62.05/Dollar

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Rupee Gains for Fifth Day, Rises to 62.05/Dollar
Mumbai: Continuing its rising streak for the fifth straight session, the rupee gained another 11 paise at 62.05 at its day's high against the dollar. Increased selling of the US currency by exporters and banks helped support the rupee.

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Besides, encouraging industrial production, which grew to a five-month high of 3.8 per cent in November, also boosted the rupee sentiments, forex dealers said.

The rupee had gained 16 paise to close at over one-month high of 62.16 yesterday against the American currency on persistent selling of dollars by banks and exporters on hopes of capital inflows into domestic markets.

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