The Indian rupee rebounded from early lows to end at a near 44-month closing high on Monday amid robust trade and foreign investment inflows and muted central bank intervention, dealers said.
Traders said the rupee is set to gain more in the next few days on strong inflows from foreign investors who have subscribed to a slew of public offerings by state-run companies recently, dealers said.
The partially convertible rupee ended at 45.0875/0950 per dollar, off an early low of 45.1725 and firmer than Friday's finish of 45.1575/1625 which was a 43-1/2 month closing high.
The rupee last finished higher than Monday's level on July 31, 2000 when it closed at 45.0100/0300.