Rupee rallied to its strongest level against the dollar since July 2013 on widespread hopes that exit polls later on Monday would show the opposition Bharatiya Janata Party winning a majority in the country's elections.
The optimism comes even as exit polls in previous elections have proved to be unreliable.
India's five-week long elections are set to conclude on Monday, with exit polls from media organisations to be released starting after 6:30 p.m. Actual results will be out on Friday.
The partially convertible rupee touched as much 59.51 per dollar on Monday, the strongest level since July 29, 2013, compared to its 60.02/03 close on Friday.
Copyright: Thomson Reuters 2014
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