Rupee gains on flows from recent dollar bond sale

The rupee rises to 53.60/61 from its previous close of 53.84/85 on the back of dollar sales, which traders attribute to flows from Bharat Petroleum Corp Ltd's $500 million dollar bond sale last week.

"The market seems to be front running the flows as there is talk more flows may hit the market in the second half today," a dealer with a state-run bank said.

The trader also cites some flows seen from a large engineering company.

The BSE Sensex also reverses early losses to trade up 0.4 percent on the day.