Mumbai, Jan 27 (PTI) The Indian rupee gained by 21 paiseto Rs 45.50 against the American currency in the morning tradeon fresh selling of dollars by banks and corporates in view ofweakness of dollar in overseas markets.
In active trade at the Interbank Foreign Exchange (Forex)market, the domestic unit opened higher at Rs 45.58/59 perdollar against the Tuesday''s close of Rs 45.71/72 per dollarand firmed up to Rs 45.50 before quoting at Rs 45.55/56 perdollar at 1030 hrs.
It moved in a range of Rs 45.50 per dollar and Rs 45.65per dollar in the morning deals.
Fresh selling of dollars by banks and corporates on theback of fall in dollar in the New York market mainly boostedthe rupee value.
The dollar edged lower against the euro in New Yorkmarket yesterday, after Federal Reserve policy makersunanimously agreed to maintain low rates and their bond buyingprogram.