Rupee up by another 13 paise vs dollar

The Indian rupee gained another 13 paise to Rs 44.30 per US dollar in early trade today on dollar-selling by banks and exporters in view of sustained capital inflows from foreign funds into the equity market, coupled with dollar weakness overseas.

The rupee resumed higher at 44.30/32 per dollar at the Interbank Foreign Exchange as against the last close of Rs 44.43/44 per dollar before quoting at Rs 44.36/37 per dollar at 1030 hours.

It hovered in a range between 44.30 per dollar and 44.38 per dollar in morning deals.

Banks and exporters preferred to sell dollars at current exchange rates in the light of persistent capital inflows from foreign funds into the equity market, a forex dealer said.

In the New York market, the euro moved up against the dollar yesterday as traders breathed a sigh of relief after European Central Bank President Jean-Claude Trichet indicated that he was more sympathetic toward the region's sovereign debt problems than some had worried.