Mumbai, November 02: The Indian rupee gained 10 paise to 44.37/38 against the US dollar today on selling by banks and exporters amid weakness of the American currency overseas.
At the Interbank Foreign Exchange, the local currency opened stable at its overnight closing level of 44.47/48 a dollar.
Later, it moved in a range between 44.34 and 44.49 before settling at 44.37/38 a dollar.
According to a forex dealer, dollar selling by some banks and exporters on the back of a weak dollar overseas helped the rupee rise.
The dollar index, consisting of six major currencies, was down by nearly 0.2 per cent in European markets today.
The Indian benchmark Sensex closed marginally lower today, while Asian stocks also ended narrowly mixed. However, frenzied foreign capital inflows boosted the rupee sentiment, the dealer said.
Foreign Institutional Investors (FIIs) pumped over USD 1
–Agencies