PTI: Rupee rises by 22 points against dollar in early trade
The Indian rupee today surged strongly by 22 paise against the US currency in the morning trade on the back of sustained capital inflows into bullish local stocks amid small dollar selling by exporters.
In fairly active trade at the Interbank Foreign Exchange (Forex) market, the domestic currency resumed strong at 49.06/08 a dollar from its last weekend's close of 49.28/29 a dollar but later trimmed its gains and was quoted at 49.14/15 a dollar in the late morning deals.
Forex dealers said the rupee drew support mainly from positive equity market, which witnessed continued purchases by Foreign Institutional Investors.
They said exporters too sold dollars, albeit in small quantity, in early trade.
The Indian benchmark Sensex was quoted 61 points higher at 1015 hrs after rising by more than 150 points at the start of trading today.
