Rupee stands at 60 mark against Dollar after a gap of eight months

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Mumbai, Mar 28: The rupee touched the 60-mark against the dollar after a gap of eight months in early trade today on fresh selling of the US currency by exporters and banks due to persistent foreign capital inflows.

The domestic unit resumed higher at 60.18 per dollar as against the yesterday’s closing level of 60.31 at the Interbank Foreign Exchange (Forex) Market.

It firmed up further to a high of 60.00 after eight months, before quoting at 60.02 per dollar, showing a gain of 29 paise. It moved in a range of 60-60.18 per dollar during the morning trade. The rupee last traded at 59.52 during the intra-day deals on July 30, 2013.

However, in New York, the dollar gained against the euro and other rivals yesterday as investors bet on the Federal Reserve starting to hike rates before Europe’s central bank, which has signalled it could loosen monetary policy soon.

Meanwhile, the benchmark BSE Sensex rose by 58.35 points or 0.26 per cent to 22,272.72 at 1000 hours after touching an all-time high of 22,363.97.