Rupee hits one-month high against dollar

The Indian rupee rose by 13 paise to a one-month high of 45.21 per US dollar at the Interbank Foreign Exchange on Friday, supported by a rally in the domestic stock market and dollar weakness against other currencies.

Forex dealers said a higher opening in the stock market and dollar losses against a basket of major currency rivals overseas kept the rupee sentiment firm.

The rupee had gained 18 paise to close at Rs 45.34/35 per dollar in the previous session on the back of bullish domestic equities and sustained dollar-selling by exporters and banks.

Meanwhile, the Bombay Stock Exchange index Sensex was up by 119.85 points, or 0.65 per cent, to 18,626.67 in opening trade today.