Rupee up 15 paise against dollar in morning trade

Mumbai: The rupee gained 15 paise to 63.42 on fresh selling of US currency by banks on hopes of resumption of capital inflows in view of recovery in the equity market despite higher dollar in overseas markets.

The rupee resumed higher at 63.51 as against on 6 January’s closing level of 63.57 at Interbank Foreign Exchange (Forex) and hovered in a range of 63.40-63.56 per dollar before quoting at 63.42 at 1000 hrs.

The rupee had lost 28 paise, or 0.44 per cent, in last two days. In New York market, the dollar rose on January 6 to its highest level against the Norwegian krone since July 2002 as weakening oil prices continued to weigh on the economies of major oil exporters. Meanwhile, the benchmark Sensex was quoted higher by 33.14 points, or 0.12 per cent, to 27,020.60 at 1000 hours.