Rupee ends at 1-week high of 60.81

The Indian rupee on Friday edged up three paise to end at one-week high of 60.81 against the Greenback on sustained dollar selling by exporters and capital inflows.

A strong dollar overseas and some hesitancy in local stocks, however, limited the rupee rise, forex dealers said.

On a weekly basis, the local currency, however, fell 16 paise to log its first weekly drop in seven largely due to the 48-paise drop on Monday.

At the Interbank Foreign Exchange market, the domestic unit today resumed better at 60.78 a dollar from previous close of 60.84.

It was trapped in a narrow range of 60.73 and 60.8975 before finishing at 60.81, a rise of three paise or 0.05 per cent.

In previous four days, rupee rose by 32 paise or 0.52

per cent.

Today's closing of 60.81 against US dollar is the highest level since 60.65 on September 12.

The British pound staged a solid rally in early trade today, as Scottish voters had decided to remain in the UK but later cooled off and eased.

The dollar index was quoting sharply higher by 0.34 per cent against its major global rivals.

Meanwhile, the benchmark S&P BSE Sensex, after two days of strong rally, ended lower by 21.79 points or 0.08 per cent. FPIs/FIIs bought shares worth USD 25.31 million yesterday, as per Sebi data.

Pramit Brahmbhatt, Veracity Group CEO, said: "Today rupee traded in a thin range and ended near previous close. Rupee is expected to appreciate in coming days tracking gains in local equities.

"Trading range for the Spot USD/INR pair is expected to be within 60.30 to 61.30."