The Indian rupee today rose to one- year high of 46.13 against the $, which plummeted to a new low against its major rivals, on anticipation of foreign funds pouring into strong domestic equity markets.
In brisk trading at the Interbank Foreign Exchange (Forex) market, the domestic currency hit a high of 46.02, the level not seen since September 24, 2008.
However, it closed at came down to settle at 46.13, up 35 paise from its last close.
Foreign exchange dealers said weak dollar overseas compelled exporters and corporates to sell the US currency, anticipating further fall in the American unit.
Source : ethioplanet.com