India rupee rises to 60 per dollar on dovish Fed comments

MUMBAI: The Indian rupee strengthened to 60 per dollar on Thursday, its highest in almost a week, after the US Federal Reserve signalled that interest rates will stay low for a while yet.

At 0336 GMT, the rupee trading at 60.0150/0300, after having hit 60.00, a level last seen on June 16. It had closed at 60.39/40 against the dollar on Wednesday.

However, traders expect the gains to be limited during the session as concerns persisted that an insurgency in Iraq could disrupt oil exports from the second-largest OPEC producer.