The Indian rupee advanced by 11 paise to 49.31/32 against the US currency at 1030hrs in view of selling of dollars by banks and exporters on the back of persistent capital inflows from foreign funds.
The rupee resumed lower at 49.45/46 per dollar at the Interbank Foreign Exchange (Forex) market as against the last weekend’s level of 49.42/43 per dollar and hovered in a range of 49.20 per dollar and 49.53 per dollar before quoting at 49.31/32 per dollar at 1030hrs.
Banks and exporters preferred to reduce their dollar position in view of sustained capital inflows into equity market from foreign funds, a dealer said.
Meanwhile, the Indian benchmark sensex failed to maintain initial gains and was down by 30 points or 0.17 per cent in the early trade.
