Rupee up 19 paise against dollar in late morning trade

The rupee rose by 19 paise to 62.25 per dollar in late morning trade on Monday on fresh selling of dollars by banks and exporters due to good capital inflows from foreign funds into equity market.

The rupee resumed higher at 62.35 per dollar as against the last closing level of 62.44 per dollar at the Interbank Foreign Exchange (Forex) and firmed up further to 62.24 per dollar before quoting at 62.25 per dollar at 1040 hrs.

Persistent foreign capital inflows in view of firm trend in equity market mainly boosted the rupee value against the dollar, a forex dealer said.

In New York, the US dollar rose against the yen last Friday, setting a new six-month high, even as the Greenback slid against most of its other rivals in a quiet post-holiday trading session.

Meanwhile, the BSE benchmark Sensex rose by 127 points, or 0.61 %, to 20,918.93 at 10.45 am.