Rupee gains 19 paise vs dollar in the late morning trade

The rupee gained by 19 paise to 54.19 against the American currency in the late morning trade on fresh selling of dollars by banks on the back of weakness of dollar in overseas market.

Persistent capital inflows from foreign funds into equity market also boosted the rupee value against the dollar, a forex dealer said.

The rupee resumed lower at 54.18 per dollar against the last closing level of 54.38 per dollar at the Interbank Foreign Exchange (Forex) Market and hovered in a range of 54.15 per dollar and 54.26 per dollar before quoting at 54.19 per dollar at 1040 hrs.
In New York market, the euro traded near the USD 1.30 level against the dollar yesterday as investors speculated about a possible interest-rate cut at next week's European Central Bank meeting.

Meanwhile, the Indian benchmark Sensex rose by 126.18 points, or 0.66 per cent, to 19,305.54 in the late morning trade.