The rupee was trading strong by 12 paise at 61.63 against the dollar at 3.46 p.m. local time.
Continuing its rising streak for the third straight day, the rupee appreciated by 13 paise to 61.62 against the dollar in early trade at the Interbank Foreign Exchange market today on sustained selling of the US currency by exporters and banks.
The domestic unit moved in the range of 61.54-61.70 levels.
The rupee had gained 30 paise to close at a one-month high of 61.75 in the previous session.
Oversubscription of Power Grid Corporation follow-on-public offer (FPO), which got subscribed 4.77 times, also supported the rupee, forex dealers said.
However, the dollar’s gains against other currencies overseas ahead of US jobs data and a lower opening in the domestic equity market capped the gains, they said.
