The rupee rose 15 paise to 49.82 against the American currency in late morning trade on fresh selling of dollar by banks and exporters in view of sustained capital inflows amid weakness in greenback overseas.
The rupee resumed higher at 49.91/92 per dollar at the Interbank Foreign Exchange (Forex) market and firmed up to 49.82 per dollar before quoting at 49.84/85 per dollar at 10.30 am.
Renewed selling of dollar by banks and exporters in view of persistent capital inflows from foreign funds into the equity market mainly boosted the rupee’s value against the dollar, a forex dealer said.
Foreign Institutional Investors (FIIs) made substantial purchases over the past two trading sessions. FIIs bought shares worth Rs 1,298.64 crore yesterday as per provisional data from the stock exchanges.
In the New York market, the dollar declined against the Japanese yen yesterday, giving back some of the gains that propelled the greenback to a 10-month high last week. The dollar also turned down slightly against the euro.