Rupee logs best monthly gain since Oct

The rupee on Friday rose 23 paise to an over five-week closing high of 61.75 against the US dollar on exporters selling the American currency and positive cues from local equities, to clock the best monthly gain since October 2013.

The sentiment in favour of the rupee also firmed up on sustained capital inflows and a sharp fall in dollar traded in the overseas markets, a forex dealer said, adding that downbeat fiscal deficit data failed to temper the enthusiasm.
For the week, the rupee gained 37 paise since ending at 62.12 on February 21. The gain in February is the highest since 110-paise surge logged in October 2013.