Rupee continues firm against dollar in late morning deals

The rupee continued to rule firm in late morning trade on Friday on sustained selling of the US currency by banks and exporters amid weakness of dollar overseas.

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

The Indian rupee resumed higher at 54.52 per dollar against the last closing level of 54.56 at the interbank foreign exchange market.

In New York market, the euro surged against the US dollar yesterday with remarks by the European Central Bank president appearing to indicate a rate cut for the euro zone.

Meanwhile, the Indian benchmark BSE-30 share index, Sensex, rose by 137 points or 0.71 per cent quoting 19,550.55 at 1045 hrs.