The rupee was trading was trading strong by 37 paise at 62.06 against the dollar at 4.23 p.m. local time.
The domestic unit gained 20 paise to 62.23 per dollar in the opening trade against the previous close of 62.43 on selling of the American currency by banks and software exporters.
“On account of half-yearly closing, there is a possibility that corporates (mainly IT exporters) might have sold dollar in the markets. This has helped the rupee gain against the US dollar,” said Abhishek Goenka, Founder and CEO, India Forex Advisors.
