The Indian rupee was up by 16 paise at Rs 48.98 per US dollar in early trade today on persistent selling of dollars by banks and exporters due to weakness of the American currency overseas amid a firm trend in the domestic equity market.
The rupee resumed higher at Rs 49.02/03 per dollar on the Interbank Foreign Exchange, as against its previous close of Rs 49.14/15 per dollar, and moved up further to Rs 48.98 per dollar before quoting at Rs 49.06/07 per dollar at 1030 hours.
From: http://ping.fm/OLvoZ
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