The Indian rupee gained confidence after euro and other currencies posted gains against US dollar.
The rupee sentiment was boosted by weaker dollar and steep rise in domestic stock market due to CRR cut by RBI.
The Indian rupee opened at 49.95 per dollar versus 50.10 yesterday. At 01.40 pm IST, rupee was seen trading at 49.93.
Meanwhile, the BSE was seen trading higher at 17000.04 up by 248.31 points or 1.48% and the 50-share NSE was at 5124.40 up by 78.15 points or 1.55%.