Rupee gains on dollar sale by banks

But unlikely to retain gains as month-end dollar demand likely to weigh

The rupee appreciated in morning trades due to dollar sale by banks. Bullish equities also helped the rupee.

At 10:15 am, the rupee was trading at Rs 62.44 compared with previous close of Rs 62.58 per dollar.

But currency dealers believe the rupee may not be able to hold its gains longer as month end dollar demand from imports still exists.