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Rupee up 6 paise against US dollar, at 62.44

At the Interbank Foreign Exchange (Forex) market, the local unit commenced better at 62.45 a dollar from overnight close of 62.50 and improved further to a high of 62.28 on sustained dollar selling by exporters at initial stages.

The first meeting between the promoters of top Uttar Pradesh sugar companies and Chief Minister Akhilesh Yadav on Sunday evening ended inconclusively.
Gold reserves stood unchanged at $21.227 billion in the week ended on November 15, reflecting the tepid movement in prices.
At the interbank foreign exchange market, the rupee opened slightly higher at 62.90 a dollar from the previous close of 62.93 and touched a high of 62.84.
This is the first rise in consumption since the dip started in June. Sales fell as much as 1.5 per cent in June and by 1.3 per cent in the following month.