The Indian rupee advanced by 11 paise to 61.93 against the US dollar in late morning trade on sustained selling of dollars by banks and exporters on the back of weakness in US currency overseas, amid firm local equity market.
The rupee resumed slightly lower at 62.05 per dollar against last weekend's level of 62.04 at the Interbank Foreign Exchange market. It recovered to 61.88 per dollar before quoting 61.93 at 10.45 am.
It hovered in a range of 61.88 and 62.07 per dollar during the morning deals.
In New York, the dollar fell against most rivals on last Friday, taking a breather from its upward march visible since the Federal Reserve said two days ago that it would slow its bond-buying stimulus.
Meanwhile, the BSE Sensex rose by 96.20 points, or 0.46 per cent, to 21,175.92 at the same time.
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