Rupee at seven-week highs

October 4, 2013
An employee poses with the bundles of Indian rupee notes inside a bank in Agartala
An employee poses with the bundles of rupee notes inside a bank in Agartala August 22, 2013. REUTERS/Jayanta Dey/Files

Reuters Market Eye - Rupee rises to a seven-week high of 61.33. Stops got triggered when the pair hit 61.64, which marked the lowest level for dollar since the Federal Reserve's surprise decision to continue its bond stimulus last month.

Pair last at 61.42/43 from Thursday's close of 61.735/745.

Thursday saw the first clear daily close below the trendline drawn from the May low.

Local stocks extend gains, up 0.34 percent.

A large engineering firm was also a seller of dollars, traders say.

EUR held firm, within striking distance of its 2013 peak, helped by strong euro zone data and USD weakness on government shutdown.

(Reporting by Subhadip Sircar)