Mumbai, India (BBN)-Indian rupee was trading strong at 68.23 in the late morning deals on increased US dollar by banks and exporters Wednesday.
Dealers said fresh selling of the American unit and the dollar’s weakness against other currencies overseas, barring yen, boosted the rupee sentiment, reports PTI.
Further, a firm domestic equity market supported the uptrend, they added.
The domestic unit opened higher by 8 paise at 68.25 at the Interbank Foreign Exchange market today.
It hovered in a range of 68.26 and 68.19 before quoting at 68.23, up 10 paise at 11.10 am local time.
Yesterday, the rupee had lost 11 paise to close at a fresh one-month low of 68.33 against the American currency on heavy dollar demand from corporates and importers.
Meanwhile, the benchmark BSE Sensex was trading up by 23.03 points or 0.09 per cent at 26,666.27.