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Rupee gains 11 paise

MUMBAI: The rupee on Tuesday closed sharply higher against the U.S. currency at 44.45/46 a dollar due to lack of demand.

In thin trading at the interbank foreign exchange market, the rupee opened weak at 44.60/62 and later shot up due to poor dollar demand, before closing at 44.45/46 against the last weekend level of 44.56/57.

The Reserve Bank of India fixed the reference rate for the dollar at Rs. 44.54. — PTI

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