Rupee near day's high as large bank sells dollars

The rupee was trading near the day's high at 60.32/33 after rising to as high as 60.2650 briefly, a level last seen on April 17, as a large state-owned bank was spotted selling dollars on behalf of a foreign client.

The rupee was trading near the day's high at 60.32/33 after rising to as high as 60.2650 briefly, a level last seen on April 17, as a large state-owned bank was spotted selling dollars on behalf of a foreign client.

The pair had closed at 60.42/43 per dollar on Tuesday.

"There is strong bidding interest around 60.30," said a trader with a public sector bank.

Gains in local stocks and strong inflows from corporates were hurting the dollar but further losses are unlikely before US Federal Reserve's policy meet outcome due late on Wednesday.