The rupee was trading strong by 13 paise at 62.56 on weak dollar amid sustained dollar selling by banks and exporters.
The rupee appreciated by 34 paise to a two-week high of 62.35 against the dollar in early trade at the Interbank Foreign Exchange market today.
It further strengthened to 62.35 before being quoted at 62.56 at 4.40 pm local time.
The local currency hovered in the range of 62.35 and 62.67 in the afternoon trade.
Forex dealers said besides selling of the American currency by exporters and banks, tumbling of the dollar against euro and yen following a surprisingly dovish forecast for growth and interest rates by the US Federal Reserve, supported the rupee.
Further, a strong the domestic equity market influenced the uptrend in the rupee, they added.
The rupee had closed at 62.69 against the dollar yesterday.
Meanwhile, the Sensex ended lower by 152.45 points or 0.53 per cent at 28,469.67.