Indian currency strengthened further by about seven paise against the US currency in morning trade, buoyed by continued dollar selling by exporters coupled with firm trend in equity markets.
Expectations of fresh capital inflows after a rate cut by the US federal reserve in its meeting on December 11 also aided the rupee sentiment.
In quiet trade at the Interbank Foreign Exchange (forex) market, the rupee resumed higher at 39.46/48 a dollar from Monday's close of 39.49/50 and later appreciated to 39.4200/4275 a dollar in late morning deals.
The rupee continued to draw support from weak dollar against major currencies in global markets and sustained exporters' dollar sales in early trade, forex dealers said. Traders, however, were wary of the central bank intervention if domestic currency surged sharply during the day.
Expectations of fresh capital inflows after a rate cut by the US federal reserve in its meeting on December 11 also aided the rupee sentiment.
In quiet trade at the Interbank Foreign Exchange (forex) market, the rupee resumed higher at 39.46/48 a dollar from Monday's close of 39.49/50 and later appreciated to 39.4200/4275 a dollar in late morning deals.
The rupee continued to draw support from weak dollar against major currencies in global markets and sustained exporters' dollar sales in early trade, forex dealers said. Traders, however, were wary of the central bank intervention if domestic currency surged sharply during the day.
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