It rose by 17 paise in early morning trade and was seen up by 10 paise to Rs 53.20 per dollar on the Interbank Foreign Exchange at 2:00 pm IST.
Strong manufacturing data from China and India boosted the rupee sentiments in the country. Weaker dollar and positive opening in domestic stock market was double treat for rupee.
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 domestic currency lingered in a range between Rs 53.05 and Rs 53.35 per dollar during the session.
At 2.20 pm IST, BSE was seen trading at 15,849.81 up by 331.81 points. The 50-share NSE was at 4,737.20 up by 100.25 points.