The Indian rupee gained 13 paise to Rs 44.30 against the US dollar in late morning trade today on fresh selling of dollars by banks and exporters in view of persistent capital inflows by foreign funds into the equity markets.
The rupee resumed slightly higher at 44.42/43 per dollar at the Interbank Foreign Exchange as against its previous close of 44.43/44 per dollar and moved up further to 44.30 per dollar before quoting at 44.35/36 per dollar at 1030 hours.
It hovered in a range between Rs 44.30 and Rs 44.44 per dollar during morning trade.
Banks and exporters preferred to sell dollars following sustained capital inflows from foreign funds, a forex dealer said.
However, the US dollar extended its gains against the euro yesterday in New York after Moody's Investors Service cut its credit rating on Portugal to below investment grade.
Meanwhile, the Bombay Stock Exchange Sensex was down marginally by 19.00 points, or 0.10%, at 18,725.56 in opening trade today.
