Rupee near three-week high; large corporate sells dollars

Reuters Market Eye - The rupee rises to near three-week high as dealers cite corporate inflow related selling.

The rupee is at 63.35/36 after rising to 63.28, its highest since August 23, and 63.84/85 last close.

Several dealers cite selling by a large private petrochemical company.

Some dealers also cite selling related to possible front-running due to inflows towards Mylan Inc's $1.6 billion deal to acquire a unit of Strides Arcolab Ltd.

Dealer says convincing break of 63.30 means 63 will be next support.

(Reporting by Subhadip Sircar)