Rupee surges 23 paise to 47.87/$ in opening trade

The Indian rupee strengthened by 23 paise to a two-month high of 47.87 against the US currency in opening trade today on dollar selling by exporters.

Dealers said dollar selling by exporters and weaker US currency overseas mainly supported the Indian rupee.

At the Interbank Foreign Exchange (Forex) market, the domestic unit appreciated by 23 paise to quote at almost a two-month high of 47.87 a dollar over the previous close.

Yesterday, the rupee closed 13 paise lower at 48.10/11.

The Forex market remained closed yesterday for fiscal half-year book closing.

Meanwhile, the BSE Sensex crossed 17,000-point level in yesterday's trading for the first time since May last year.