Rupee generally follow the footsteps of Euro, if euro is rising against the dollar, same trend can be visible in the Indian currency as well. The Indian rupee gained confidence after euro and other currencies posted gains against US dollar.
The Indian rupee opened at 49.29 per dollar. At 11.50 am IST rupee was seen trading at 49.18 down by 10 paise.
Meanwhile, the BSE was seen trading lower at 18369.96 up by 215.97 points or 1.19% and the 50-share NSE was at 5589.05 up by 67.10 points or 1.22%.