The Indian rupee advanced by another 26 paise to 48.70 against the greenback in the morning trade today in tandem with rise in stocks and weakness in dollar overseas.
In active trade at the Interbank Foreign Exchange (forex) market, the rupee resumed higher at 48.81/84 a dollar against its last close of 48.96/98 a dollar and later spurted to a high of 48.70 before being quoted at 48.80/82 a dollar in late morning deals.
Asian stock markets boosting the outlook for foreign equity inflows and underpinned by the dollar's weakness against the major currencies.
Key benchmark Asian indices opened higher between 0.46 per cent and 2.34 per cent.
Forex dealers said the rupee drew support as the equity market firmed up by 124 points or 0.90 per cent in the morning trade.
Meanwhile, crude oil was higher at $60.12 a barrel in Asian trade today but any further sharp gains are likely to be capped by worries over weak US energy demand, analysts added.
