Rupee at day's high at 55.86/dollar

Rupee trading near day's high as local stocks rise, euro holding gains. Rupee at 55.68/70 after falling to 55.78 in trade versus last close of 55.75/76.

Indian shares extend gains, BSE Sensex up 0.7 percent.

USD/INR 1-month NDF trading at 56.00 after closing NY trading at 55.84-88.

The euro on Friday held onto most of its gains from the previous session, bolstered by expectations for impending action to stem Europe's more than two-year old debt crisis.