The rupee rose around 1.3% to 47.925 per dollar, before trading at 48.055 at 10:05 a.m.
Rupee touched its highest level in more than a month on speculation that the U.S. Government will bail out its automakers that spurred a rally in regional stocks.
The rupee rose around 1.3% to 47.925 per dollar, before trading at 48.055 at 10:05 a.m., according to the reports.
The rupee has rebounded more than 5% from a record low touched on Dec. 2 on optimism that the FIIs will buy more of domestic stocks, who were net buyers of stocks for almost eight months.
The MSCI Asia Pacific Index of stocks jumped 4.2% and the Sensex, rose 1.9%.
