Rupee rises to 7-month high

MUMBAI: The rupee gained 29 paise on Tuesday to close at seven-month high of 60.48 against the dollar on sustained selling of the US currency by exporters and banks.
At the Interbank Foreign Exchange (Forex) market, the domestic unit commenced strong at 60.60 a dollar from previous close of 60.77.
Hefty capital inflows helped the rupee to bounce back to a high of 60.44 before settling at almost seven-month high of 60.48, a rise of 29 paise from its previous close. The last time the rupee closed at this level was on August 1, 2013 when it ended at at 60.43. In three straight sessions of gains, the local currency has spurted by 86 paise.
The rupee continued to rule firm to end at 99.77 against the pound from last close of 100.30. It strengthened to 83.51 per euro from 83.70. It improved to 59.14 per 100 Japanese yen from 59.33.