However, it gave up most gains and was trading almost little changed at 60.35 to the dollar.

The rupee is expected to trade in a range at least until the election results are known. Should a government with a strong mandate be voted to power, it's highly likely that we may see a sharp appreciation in the rupee.

The rupee last year had fallen to a historic low of 68.81 against the dollar, but, since than the currency has recovered on the back of a strong recovery in economic fundamentals, particularly the current account deficit. Check currency rates here

GoodReturns.in