Rupee firms up further by 13 paise vs dollar

The Indian rupee firmed up further by 13 paise to 44.73 against the American currency in early trade today on persistent selling of dollars by banks and exporters in view of sustained capital inflows from foreign funds into the equity market amid dollar weakness overseas.

The rupee resumed higher at 44.76/77 per dollar at the Interbank Foreign Exchange as against yesterday's close of 44.86/87 per dollar and moved up further to 44.73 per dollar before quoting at Rs 44.75/76 per dollar at 1030 hrs.

The domestic currency moved in a range between Rs 44.73 and Rs 44.77 dollar per in morning trade.

Banks and exporters preferred to reduce their dollar position due to persistent capital inflows from foreign funds into the equity market mainly, boosting the rupee value against the dollar, a forex dealer said.

In Tokyo, the dollar slipped against major counterparts in early trade while the euro gained on expectations that Greece's Parliament will pass more legislations needed to secure funds to stave off a default.