The rupee rose to a near one-week high on capital inflow hopes as local stocks made strong gains. Pair rose to 54.8050, highest since Dec. 20. The pair is currently at 54.84/8450 versus 54.95/96 Monday close.
The country's main share index was up 0.9 per cent. Exporters have sold taking advantage of early falls in pair to 55.10 levels, dealers said.
Pair has support at 14-day moving average, currently at 54.6761. Government says to extend interest sops to exporters.
