Rupee strengthens to 60.03

The rupee gained 11 paise to end higher at 60.03 to a dollar against the previous close of 60.14 amid flows into the domestic equity market and fresh dollar selling by exporters. The BSE Sensex jumped 96.19 points to close at 26,087.42 while the NSE Nifty rallied 42.70 points to 7,791.40. Forex dealers said that the rupee is likely to trade in a narrow range as investors are waiting for the RBI’s credit policy scheduled on August 5. In intra-day trade, the domestic unit touched a high of 60.05 and a low of 60.21.