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Rupee Rises To Near One-Week High

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The rupee rises to a near one-week high, tracking global dollar weakness. The pair is at 62.13/15, 62.05 intraday low, versus

Tuesday's close of 62.46/47.

"The market is looking at the overall behaviour of the USD and the developments in the US," says a senior dealer with a private

bank. Indian markets were closed on Wednesday for a national holiday. A dealer tips dollar in a 61.80-62.60 band for the session

with upticks to be sold into.

The dollar languished at eight-month lows early in Asia on Thursday, 3 October, as the US government shutdown dragged on, while positive developments in Italian politics and a watchful but patient European Central Bank helped lift the euro.