The Indian rupee gained confidence after euro and other currencies posted gains against US dollar.
The rupee sentiment was boosted by weaker dollar and positive opening in domestic stock market. 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 opened at 51.22 per dollar versus 51.37 yesterday. At 12.00 IST, rupee was seen trading at 51.08.
Meanwhile, the BSE was seen trading at 16437.96 up by 248.60 or 1.54%. The 50-share NSE was at 4955.65 up by 81.75 points or 1.68%.