Rupee rises to one-month high of 59.94 against dollar

Mumbai, May 8 (IANS) The Indian rupee breached 60 against a dollar for the first time in a month, helped by selling of the American currency by exporters.

The partially convertible rupee strengthened to 59.94 against a dollar at the Interbank Foreign Exchange Markets, 19 paise stronger than its previous day close. The rupee closed at 60.13 against a dollar Wednesday.

This is the strongest value of the Indian currency since April 9.

The Indian currency hit a high of 59.94 and a low of 60.05 in the intra-day. The rupee was quoted at 60.02 to a dollar at 1.42 p.m. Indian time.