Rupee close to one week high

Gains 55 paise in early trade, with the dollar coming under pressure across the globe

The rupee strengthened about 55 paisa against the dollar in early trade, with the greenback coming under pressure across the globe. The rupee is close to one week high now and trading at 61.93/$ as compared to the previous close of 62.47/$.

Indian markets were closed on Wednesday on account of Gandhi Jayanti.   

The dollar languished at eight-month lows early in Asia on Thursday as the US government shutdown dragged on.

Despite the widening current account deficit numbers in Q1, the market is expecting the gap to narrow down significantly in Q2 as the government imposed several curbs on the import of gold.

The rupee has already reversed some of its losses -- that it had incurred during May-August period -- in September following measures taken by the central bank to boost inflows. The currency gained about 5% against the dollar, which is its first monthly gain since April.