Rupee rises to over 1-week high on euro

The rupee rose to an over one-week high on Thursday after the euro jumped to a seven-week high on hopes of monetary easing by the Federal Reserve and as the government made it easier for companies to tap overseas funds.

At 9.04 a.m. local time, the rupee was trading at 55.2325/2475 versus its last close of 55.4950/5050. It rose to a high of 55.20, its highest since Aug 13.

India has eased overseas borrowing rules, including allowing non-resident entities to provide some guarantees for external borrowings.