The rupee on Monday appreciated by 37 paise to rise to a 15-month high in early trade, tracking other firming Asian currencies.
At the Interbank Foreign Exchange (Forex) market, the rupee appreciated by 37 paise to 45.38 a dollar, the highest since September 2008. The currency had ended 8 paise lower at 45.75/76 in the previous session.
Dealers said the dollar's losses against other Asian currencies and increased capital inflows by funds into domestic equity markets supported the rupee sentiment.
Meanwhile, the benchmark Sensex was up over 236 points, or 1.34 per cent in early trade on Monday.