Rupee rises by 26 paise in opening trade

The Indian rupee rose to a new one-month high after gaining 26 paise against the US currency in the opening trade today as exporters sold dollar, which weakened against major currencies.

The Indian rupee rose to a new one-month high after gaining 26 paise against the US currency in the opening trade today as exporters sold dollar, which weakened against major currencies.

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At the Interbank Foreign Exchange (Forex) market, the domestic unit gained 26 paise at 47.97 a dollar over the previous close.

Yesterday, the rupee closed 40 paise higher at 48.23/24.
Dealers attributed persistent rise in the rupee to strong rally in equities.

The BSE benchmark Sensex climbed to a 16-month high in yesterday's trade.
They said weak dollar against euro and some other currencies and dollar selling by exporters and also boosted the rupee sentiment.