March 7, 2014 / 4:07 AM / in 4 years

Rupee hits three-month high, trading around 61 vs dollar

Reuters Market Eye - The rupee hits a new three-month high, but fails to rise above 61 in early attempts. The rupee is flat on day at 61.11/12 after opening at 61.01.

An employee poses with the bundles of rupee notes inside a bank in Agartala August 22, 2013. REUTERS/Jayanta Dey/Files

A large U.S. bank buyer of dollar in early trades, dealers say.

Nifty hits record high, up 0.7 percent.

Overseas investors continue heavy buying of Indian shares. At $207.84 million on Thursday, it was their biggest daily purchase since December 19, provisional exchange data shows.

The euro hovered near a two-month high against the dollar early on Friday following a relief rally when the European Central Bank left its interest rates unchanged.

Most other Asian currencies like rupiah and Taiwan dollar trading stronger compared with the U.S. dollar.

A breach of 60.84 will mark the rupee’s highest level since August 12.

Reporting by Subhadip Sircar

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