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The rupee moved up further by 8 paise to 44.44 against the American currency in the early trade due to persistent selling of dollar by banks on the back of weak dollar in the overseas market.
At the Interbank Foreign Exchange market, the domestic unit resumed higher at 44.45/46 per dollar against the last closing level of 44.52/53 per dollar and firmed up further to 44.44 per dollar before quoting at 44.47/48 per dollar at 10.30 a.m.
It moved in a restricted range between 44.44 per dollar and 44.48 per dollar during the morning trade.
In the Tokyo market, the dollar was down against its major rivals in the early trade, after a fresh reminder that the US has sovereign debt woes of its own.
Late Wednesday, rating agency Moody’s Investors Service said it placed the US Government’s AAA bond rating on review for possible downgrade due to “a small but rising risk” of a short-lived default, as politicians wrangle about raising the US debt ceiling.
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