Rupee bounces back by 15 paise versus dollar

Mumbai: The Indian rupee bounced back by 15 paise to Rs 45 per US dollar in early trade on Wednesday on fresh selling of dollars by banks and exporters in view of dollar weakness in overseas markets.

At the Interbank Foreign Exchange, the domestic unit opened higher at 45.05/06 per dollar as against Monday`s closing level of 45.15/16 per dollar and moved up further to 45.00 before quoting at 45.06/07 per dollar at 1030 hours.

It hovered in a range between 45.00 and 45.15 per dollar in morning deals.

Renewed selling of dollars by banks and exporters on the back of dollar weakness in the New York market yesterday mainly boosted the rupee value against the dollar, a forex dealer said.

The dollar moved lower against the euro and British pound in the New York market yesterday, even as US stocks and commodities clawed back from the day`s lows after being weighed down by weak US economic data.