Rupee rises to 60.13 as exporters sell dollars

The rupee rises to 60.1350/1450 compared with 60.1550/1650 per dollar on Monday, as large foreign banks sell dollars on behalf of exporters, traders say.

The rupee was trading marginally stronger in the spot offshore NDF market, prompting traders to sell dollars in domestic spot market to narrow the differential. The two rates are now broadly at the same levels.

Earlier, rupee got a boost after the Reserve Bank of India chief said India was well positioned on the external front to deal with shocks.

The rupee had earlier fallen to 60.55, a level last seen on April 29, but came off after the RBI was spotted selling dollars through state-owned banks around 60.49 rupee levels, traders said.

The partially convertible rupee is seen trading in a range of 60.00 to 60.20 until close.