The rupee on Thursday rose 31 paise, logging its best single-day gain in over a month, to end at 60.08 against the dollar as the American currency weakened on US Fed keeping its policy of ultra-low interest rates intact.
Fresh selling of dollars by banks and exporters in view of good foreign capital inflows coupled with lower dollar overseas boosted the rupee, say forex dealers. The rupee resumed higher at 60.06 per dollar as against the last closing level of 60.39 per dollar at the Interbank Foreign Exchange (Forex).
It firmed up further to 59.85 per dollar, before ending at 60.08 per dollar -- a gain of 31 paise or 0.51 per cent. It hovered in a range of 59.85 to 60.19 during the day.The rupee's rise the biggest since May 15. The dollar index, a gauge of six major global rivals, was down by 0.44 per cent on Thursday.