Mumbai, May 13: The rupee today surrendered major part of its early gains and closed three paise higher at 45.08/09 against the US currency amid firm dollar overseas.
The domestic unit opened strong at 44.96/98 a dollar from yesterday’s close of 45.11/12. It later touched a high of 44.93 on the back of strong rally in stock markets.
Dollar selling by exporters at initial stages too helped the rupee rise, a forex dealer said.
However, importers bought dollar in the later part of the day, weighing on the rupee which fell to an intra-day low of 45.16 a dollar, dealers said.
The dollar was at a one-week high against the euro in overseas market and also higher against its other major rivals.
–Agencies