PN:Rupee hits eight-month high of 59.62 per dollar
The rupee was trading at 59.70/71 versus Friday's close of 59.91/92 as bunched-up dollar inflows and record high domestic shares aid sentiment. The unit rose to as high as 59.60, its strongest since July 30.
Traders said some support for the dollar is likely at around 59.70 levels on the back of importer demand.
Trading in the rupee resumed after a two-day break due to a local holiday and annual closing of bank accounts.
Traders said sentiment for the rupee was positive after the Reserve Bank of India kept rates on hold at its policy review while further tightening bank's access to cheap overnight funds.
Gains in other Asian currencies also helped rupee sentiment.
