May 5, 2014 / 7:53 AM / in 3 years

Rupee close to one-month highs

Reuters Market Eye - The rupee is trading at 60.04/05 versus its close of 60.16/17 on Friday, with losses in the dollar against other Asian peers and gains in the domestic share market helping sentiment for the Indian unit.

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

The rupee hit a high of 60.00 earlier, its highest since April 9.

Traders expect the USD/INR pair to see strong support at 60 levels, which if broken can take the pair to 59.80, they say.

The BSE Sensex is trading up 0.55 percent, with traders continuing to monitor the direction of foreign fund flows for cues.

All Asian currencies stronger versus the dollar.

The index of the dollar against six major currencies currently down 0.07 percent.

Swati Bhat

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