Mumbai (PTI): The Indian rupee on Friday appreciated by 18 paise to 48.52 against the US currency in early trade on fresh dollar sales by exporters amid a slide in the American currency against major world currencies.
In quiet trade at the Interbank Foreign Exchange (forex) market, the domestic currency resumed steady at 48.68/70 a dollar and later firmed up to 48.52 level before being quoted at 48.63/64 a dollar in late morning trade.
Forex dealers said the rupee continued drew support from weak dollar overseas and some selling by exporters at home.
The dollar dropped against major currencies in New York Exchange on Thursday.
Indian benchmark Sensex was trading in the green after Infosys Technologies announced better-than-expected first quarter results this morning.
Source : The Hindu