MUMBAI: The Indian rupee gained 7 paise to Rs 44.50 per US dollar in early trade on Tuesday on mild selling of dollars by banks despite firmness of the American currency in overseas markets.
The rupee resumed higher at Rs 44.54/55 per dollar on the Interbank Foreign Exchange, as against the overnight closing level of 44.57/58 per dollar, and moved up further to Rs 44.50 per dollar before quoting at 44.55/56 per dollar at 1030 hours.
The domestic currency moved in a restricted range between Rs 44.50 and Rs 44.56 per dollar during morning trade.
However, in the New York market, the US dollar gained against most major rivals as investors sold the euro and offloaded equities on Tuesday after a poorly received round of European bank stress tests amid sovereign debt worries at home and in Europe.
