Rupee gains after RBI policy review

The rupee fell to as low as 61.71 after the RBI policy review before gaining to trade at 61.59.

The rupee/dollar pair closed Monday at 61.53/54.

The RBI kept its key policy repo rate unchanged at 8% on Tuesday.

The dollar is on track to post its biggest monthly gain in over a year.

Asian currencies are trading mixed versus the dollar.

Month-end demand from importers is seen aiding the pair.

Nifty is trading up 0.87%.