Forex Update: Rupee ends higher by 25 paise against dollar at 61.101

The rupee ended higher by 25 paise to 61.10 against the American currency in morning trade on Monday on fresh selling of dollars by exporters and banks in view of weakness of the greenback in overseas market.

The rupee resumed higher at 61.25 per dollar as against the last weekend's level of 61.35 at the Interbank Foreign Exchange (Forex) Market.

It moved up further to 61.0950 per dollar before ending at 61.10 dollar, showing a gain of 25 paise or 0.41 pct.

The domestic unit hovered in a range of 61.0950 per dollar and 61.30 per dollar during the day.

Exporters and banks preferred to reduce their dollar position on the back of lower US dollar in the international market, a forex dealer said.

In the global market, the dollar fell to a one-month low against the yen on Monday as heightened worries about the health of the global economy continued to shore up the safe-haven Japanese currency.

The dollar index was lower by 0.20 per cent against a basket of six major global units.

The dollar also slipped versus the euro and Australian dollar in choppy, holiday-thinned trade.

In New York market, after recording 12 straight weeks of growth, the US Dollar Index finished the week lower for the first time since early July on last Friday as investors sold the currency on concerns it had become overbought following last week's better-than-expected jobs report.

Meanwhile, the Indian benchmark BSE Sensex ended higher by 86.69 points or 0.33 per cent to 26,384.07.