Rupee Hits Three-week High of 60.90/Dollar

The rupee hit 60.90 in opening trade, its highest since September 23. The pair was trading at 60.96/97 versus Monday's close of 61.0950/1050.

India's retail inflation in September hits record low, but rate cuts are still unlikely. The pair will move in 60.90 to 61.20 range today.

Traders expect caution to prevail ahead of the Maharashtra state election on Wednesday. Most Asian currencies were also trading stronger compared to the dollar.

Nifty was trading 0.5 per cent higher and will be watched for clues on foreign fund flows.

Copyright: Thomson Reuters 2014