Rupee continues to rule firm against dollar; up by 12 paise at 54.44

Rupee continues to rule firm against dollar; up by 12 paise at 54.44 Mumbai: The rupee continued to rule firm against the American currency in the late morning trade Tuesday and was quoted higher by 12 paise to 54.44 per dollar on sustained selling of dollars by banks and exporters amidst firm dollar overseas.

The rupee resumed higher 54.49 per dollar as against the closing level of 54.56 per dollar at the Interbank Foreign Exchange (Forex) market and moved in a range of 54.41 per dollar and 54.50 per dollar before quoting at 54.44 per dollar at 1040 hrs.

Persistent selling of dollars by banks and exporters mainly boosted the rupee value against the dollar, a forex dealer said.

However, in Los Angeles market Japan's currency fell in the early trade struggling at four-year lows against the US dollar as it extended its dive in the wake of fresh Japanese monetary stimulus.

The US dollar bought 99.40 yen in Asian trade, compared with 99.21 in North American trade late yesterday.

Meanwhile, the Indian benchmark Sensex moved up by 20.93 points, or 0.11 percent, to 18,458.71 at 1040 hrs.

PTI