Rupee at two-week high

Rupee rose to its highest level in two weeks on Tuesday, strengthening for a second straight month, after a cut in tax on interest payment to foreigners on debt raised hopes of more dollar inflows. Rupee had closed at 53.80/81 per dollar on Tuesday (30 April 2013) compared with its close of 54.23/24 on Monday. The unit rose to as high as 53.79, its strongest since 17 April. On the month, the rupee gained 0.9 percent taking its total gains in 2013 to 2.2 percent.

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