Mumbai: Rupee jumped to its highest in nearly a month on Tuesday, as traders took positions anticipating local stocks to track gains in Asian markets, attracting more foreign funds.
At 9:05 a.m., the partially convertible rupee was trading at 40.19/20. It ended at 40.27/28 per dollar on Monday.
Asian stocks traded higher on Tuesday, with Japan’s Nikkei up more than 1 percent.
India’s benchmark share index closed 2% higher on Monday, on hopes of a recovery in battered U.S. credit markets.