Tracking smart gains in the domestic stock market, the rupee on Monday gained 11 paise to close at 44.07/08 against the US currency on fresh dollar selling by exporters and some banks.
At the Interbank Foreign Exchange (Forex) market, the local currency opened strong at 44.05/06 a dollar from the Friday’s close of 44.18/19. The local unit concluded the day at 44.07/08.
Forex dealers said that renewed dollar selling by exporters and some banks on expectations of a further fall in American unit overseas boosted the rupee sentiment.
Fresh capital outflows, however, capped the rise to some extend.
The Bombay Stock Exchange benchmark Sensex on Monday bounced back by over 117 points or 0.64 per cent to 18,314, after plunging by 674.09 points or 3.57 per cent in the last four straight trading sessions.
