Rupee rebounds from 13-month low

Rising for the first time in five sessions, the rupee on Tuesday appreciated by 29 paise to close at 63.38 against the greenback following fresh dollar selling by exporters and foreign fund inflows in domestic debt.

At the Interbank Foreign Exchange (Forex) market, the domestic currency resumed lower at 63.72 a dollar from last close of 63.67.

The rupee then declined further to a low of 63.79 on some weakness in local stocks and month-end dollar demand from importers.

Later, rupee bounced back on fresh dollar selling by exporters and some banks to a high of 63.3550 before ending at 63.38, showing a rise of 29 paise or 0.46 per cent.

In previous four straight sessions, the Indian currency had dipped by 47 paise or 0.74 per cent.