Rupee hits highest level in 3 months

The rupee touched its highest level against the dollar in nearly three months on Wednesday, supported by strong dollar inflows and a recovery in the local stock market.

At 4:34 p.m., the rupee was at 49.27/28 to the dollar after touching 49.26, a level not seen since November 8. It closed at 49.44/45 on Tuesday.