Rupee strengthens to 61.89…

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The rupee rose 13 paise against the dollar to 61.89 from the previous close of 62.02 as the RBI kept interest rates unchanged. The RBI said it could cut the benchmark rates early next year provided inflationary pressures do not reappear and the Centre controls the fiscal deficit.

The rupee appreciated against the US currency in line with its Asian peers, as the dollar weakened overnight against currencies. Sentiments were also supported as investors remained optimistic that the RBI would cut interest rates early next year.” Intra-day, the domestic unit touched a high of 61.86 and a low of 62.02.

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