Rupee hits fresh 11 month high; RBI watched
May 23 2014 , Mumbai
The rupee was at 58.3825/4000 at 0349 GMT, after gaining to 58.3650, a level last seen on June 18. It had closed at 58.4675/4775 on Thursday.
However, traders said they expect the Reserve Bank of India to buy dollars and stem the rupee's rise.