Rupee up 11 paise against USD

The Indian rupee resumed stronger by 11 paise against the dollar in early trade on Thursday taking cues from other Asia currencies.

The Indian rupee resumed stronger by 11 paise against the dollar in early trade on Thursday taking cues from other Asia currencies.

At the Interbank Foreign Exchange (forex) market, the domestic currency gained 11 paise to quote at 48.02 over yesterday's close of 48.13/14.

The local unit had closed above the crucial 48 level against the dollar for the first time in five weeks in tandem with a sharp slide in local stocks.

Forex dealers said Asian currencies gaining strength against the dollar buoyed the rupee sentiment. However, capital outflow from equities, after yesterday's free fall, capped rupee's gain to a certain extent.

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