Rupee hits over 5-week high as foreign banks sell dollars

The rupee is trading at 61.33/34 after touching 61.3175, its highest since December 11 and below its close of 61.5350/5450 on Thursday. Traders say good foreign bank selling of the greenback likely on behalf of clients looking to invest in the debt market is hurting the pair. Domestic shares trading down 0.6 percent and helping limit any further sharp fall in the pair. The U.S. dollar faded a little on Friday after a mixed...