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Rupee shoots up

MUMBAI: The rupee on Monday made a remarkable rally against the U.S. currency on heavy inflow along with strong exporter dollar sales and a possible month-end pressure.

In active trading at the interbank foreign exchange market, the rupee commenced firm at 45.09/11 a dollar and continued to rise sharply to close at 44.91/92, steeply higher from last Friday's close of 45.14/15.

Meanwhile, the Reserve Bank of India fixed the reference rate for the U.S. dollar at Rs. 45.06 and for the single European unit at Rs. 55.70. — PTI

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