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Rupee hits 4-month high, up 51 paise against dollar

Mumbai (PTI): Extending its rising streak for the fourth straight day, the rupee appreciated by 51 paise to trade at nearly four-month high of 60.90 against the dollar in early trade today on sales of the US currency by banks and exporters and sustained foreign capital inflows.

Besides, a higher opening in the domestic equity market, where the Sensex soared to an all-time high of 21,483.74 points after BJP’s victory in state Assembly elections and strengthening of other currencies against the dollar overseas, also supported the local currency, forex dealers said.

The rupee had gained 34 paise to close at five-week high of 61.41 against the dollar on Friday.

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