The rupee was trading strong by 154 paise at 61.84 against the dollar at 3.15 p.m. local time.
The domestic unit gained 158 paise to 61.80 per dollar in the opening trade against the previous close of 63.38 as the US Federal Reserve opted to keep its quantitative easing programme intact at $85 billion a month despite widespread expectations that it would take the first step towards "tapering" it down.
According to dealers, the continuation of the quantitative easing programme and easing tensions in Syria have led to a rally in all emerging market currencies.
