Rupee rallies to 9-year high

The rupee rallied to a nine-year high on Monday, boosted by capital inflows into the stock market and on the back of the dollar's weakness against some currencies. At 1:07 p.m., the partially convertible rupee was at 40.25/26 per dollar - a level it last tested in May 1998 and up from its previous close of 40.32/32.