The Indian rupee added another 31 paise to 46.00/02 against the American currency in early trade on Monday on selling pressure from exporters amid falling overseas market and expectations of good capital inflows.
The domestic currency resumed higher at 46.12/13 per dollar against the last weekend’s level of 46.31/32 per dollar and hovered in a range of 46.00 per dollar and 46.16 per dollar before quoting at 46.00/02 per dollar at 1015 hrs.
Dealers at the Interbank Foreign Exchange (forex) market said the rupee drew support from a strong rise in local stocks market. The BSE benchmark index was up by 197 points or 1.17 per cent in the early trade.
The US dollar drifted lower in Asia, heading into a week that is likely to see increased rhetoric on currrencies from both China and visiting US President Barack Obama.
Crude Oil was higher in Asian trade today as investors bought into commodities on the back of a weak dollar, analysts said. New York’s main contract, light sweet crude for December delivery put on 71 cents to $77.06 a barrel.