Rupee hits 2-week high in 2012/13 trade

: Rupee climbed to its strongest level in nearly two weeks on Tuesday, the first session of the new financial year 2012/13, bolstered by bunched dollar inflows after a three-day weekend.

The currency, which fell 12.35 per cent in 2011/12, was helped by improved outlook for risk taking after strong manufacturing data from the United States and China, traders said.

However, the rupee is unlikely to make much headway because of a widening current account deficit. India's balance of payments fell into negative territory in the December quarter for the first time in three years.