Rupee up 12 paise at 54.69 in late morning trade

Up amid selling of dollar by exporters and banks, amid persistent capital inflows by foreign funds

The rupee today recovered by 12 paise to 54.69 against the dollar in late morning deals on selling of the US currency by exporters and banks, amid persistent capital inflows by foreign funds.

The rupee resumed weak at 54.86 per dollar as against yesterday's closing level of 54.81 per dollar at the Interbank Foreign Exchange (Forex) market.

However, it recovered immediately to 54.68 per dollar before quoting at 54.69 per dollar at 1040 hrs.

It moved in a range of 54.68 per dollar and 54.91 per dollar during the late morning deals.

"Sustained capital inflows by funds as well as bullish equities improved the rupee sentiment," dealers said.

Meanwhile, the BSE benchmark Sensex rallied by 353.41 points, or 1.82 per cent, to 20,080.57 in the late morning trade.

In the international market, the dollar slipped against the Japanese yen in early trade though it still hovered near its highest level in more than four years on prospects for an improving US economy and the end of monetary stimulus by the Federal Reserve.