BT:Rupee closes at two-week high on manufacturing data
The Indian rupee rose to a two-week high on Tuesday after manufacturing returned to growth in November. The currency settled at 62.21 against the dollar.
The HSBC Manufacturing PMI , compiled by Markit, rose to 51.3 in November from October's 49.6. It is the highest since March and marks its first time above the watershed level of 50 that divides growth from contraction in four months.
Sentiments were also affected by positive news on the Q2 gross domestic product (GDP) data which came at 4.8 per cent on Friday.
Earlier, the rupee opened 16 paise higher to 62.28 against the US dollar in early trade at the Interbank Foreign Exchange.
The domestic currency had lost three paise to close at 62.44 against the dollar on Friday amid demand for the US currency from oil refiners.
