Rupee continues to trade firm, at 54.47/dollar

Sustained selling of the US currency by banks and exporters helps rupee

The rupee continued to rule firm in late morning trade today on sustained selling of the US currency by banks and exporters amid weakness of dollar overseas.

Persistent foreign capital inflows into equity market also boosted the rupee value against the dollar, a forex dealer said.

The Indian rupee today resumed higher at 54.52 per dollar against the last closing level of 54.56 at the Interbank Foreign Exchange (Forex) Market.

It hovered in a range of 54.42 and 54.56 per dollar before quoting at 54.47 at 1045 hrs.

In the New York market, the euro surged against the US dollar yesterday with remarks by the European Central Bank's president appearing to indicate a rate cut for the euro zone.

Meanwhile, the Indian benchmark BSE-30 share index, Sensex, rose by 137 points, or 0.71%, quoting 19,550.55 at 1045 hrs.