Rupee rises to intraday high on positive exports

The rupee rose after trade ministry data showed a pick-up in exports in the month of February.

The pair was seen trading at 54.34/35, off an intraday high at 54.52, against its Friday close at 54.285/295.

India's exports rose 4.25 per cent in February 2013, with positive trend in exports likely to continue.

"There is greater comfort on current account deficit given the dilution in headwinds from external sector," said a senior dealer with a private bank.

The risk for rupee at this stage is from RBI's hawkish guidance on monetary policy and general dollar strength against major currencies, the dealer added.

Copyright @ Thomson Reuters 2013