Indian Rupee Rises To 4-day High Against US Dollar

The Indian rupee advanced to a 4-day high of 49.1250 against the US dollar on Monday as strong global cues and upbeat earnings from banking major SBI supported the domestic equities.

The better-than-expected third quarter results from the nation's biggest lender SBI and easing concerns over Greece's debt problems kept investors in a positive mood.

The benchmark 30-share Sensex moved in the range of 17,666-17,850 before paring gains and ending up 24 points or 0.14 percent at 17,773. The broader Nifty index rose by 9 points or 0.16 percent to 5,390.

The rupee stabilized around the 49.20 level at the end of the domestic trading, having appreciated almost 1.3 percent from Friday's 10-day low of 49.7650. If the rupee strengthens further, it may re-test the key 49.0 level in the near-term.