Rupee Rises to Near One-Month High of 59.99 Per Dollar

The rupee was trading at 60.04/05 versus its close of 60.16/17 on Friday. The unit rose as high as 59.99, its strongest since April 9.

All Asian currencies were trading stronger versus the dollar. The index of the dollar against six major was currencies down 0.06 per cent.

The dollar got off to a cautious start on Monday, having staged a curious reversal late last week that saw it erase all of the gains sparked by a strong payrolls report.

Traders expect the spot market to hold in a 59.90 to 60.25 range initially and watch local shares for further cues.

Copyright: Thomson Reuters 2014