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Rupee at 4-month peak

MUMBAI: Overcoming early pressures due to customary month-end considerations, the rupee on Monday bounced back smartly to climb to a four month closing high of 44.12/13 a dollar, driven up by robust portfolio investment inflows into the buoyant stock markets. Despite flaring crude oil prices and a rebounding dollar overseas, the rupee notched up another 2-1/2 paise gain from last Friday's close of 44.1450/1550. It rallied from the early low of 44.21/22 after strong FII inflows absorbed the usual month-end pressures and projected a positive outlook for the currency. — PTI

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