The Indian rupee gained confidence after euro and other currencies posted gains against US dollar. RBI's CRR cut decision yesterday to support growth had a positive impact on the firmness of the rupee and weaker dollar and positive trend in domestic market further boosted the confidence.
The Indian rupee opened at 50 per dollar versus 50.09 yesterday. At 01.30 pm IST, rupee was seen trading at 50.04
Meanwhile, the BSE was seen trading higher at 17076.75 up by 80.98 points or 0.48% and the 50-share NSE was flying higher at 5151.55 up by 24.20 points or 0.47%