The rupee on Wednesday appreciated by 11 paise to close at more than one-week high of 60.31 against the dollar on sustained selling of the US currency by exporters and corporates amid capital inflows.

Dealers said the Indian forex market is keenly awaiting the decision of the ongoing US Fed Reserve meeting.

Weak dollar overseas also aided the rupee surge while sluggish local equities somewhat restricted the rise.

The dollar index was down by 0.14 per cent against a basket of six major global currencies.

At the Interbank Foreign Exchange market, the domestic currency resumed higher at 60.35 a dollar from last close of 60.42. It moved in a narrow range before ending at 60.31, a net gain of 11 paise.

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