Rupee snaps two-day losses vs dollar, up 14 paise

The rupee snapped its two-day losing streak against the American currency by gaining 14 paise to 61.48 per dollar on selling of green currency by banks and exporters on the back of persistent foreign capital inflows into equity market.
The rupee resumed higher at 61.52 per dollar as against the last closing level of 61.62 per dollar at the Interbank Foreign Exchange (Forex) Market and hovered in a range of 61.46-61.57 per dollar before quoting at 61.48 per dollar at 1045hrs.
Banks and exporters preferred to reduce their dollar position in view of sustained foreign capital inflows into stock market.

The Indian benchmark sensex firmed up further by 58.73 points or 0.28 per cent to 21,263.78 at 1045 hrs.