5:16 pm - Wednesday May 23, 5877

Rupee hits three-week high

1323 Viewed Alka Anand Singh Comments Off on Rupee hits three-week high
Rupee down 12 paise on dollar demand
Rupee down 12 paise on dollar demand

The rupee rises to 60.12/13 from 60.31/32 on Wednesday, after earlier rising as high as 60.09, a level last seen on April 10.

USD/INR was under pressure as month-end dollar buying by oil companies in recent sessions faded and also due to stronger domestic shares.

The dollar struggled to make any headway early on Friday, still languishing near a three-week trough against a basket of major currencies as investors stay on the sidelines ahead of a closely watched U.S. employment report.

Traders see USD/INR moving in a 60.00 to 60.50 range during the session.

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