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The rupee moved up by 4 paise to 44.39 per US dollar in the early trade today on fresh selling of the dollar by banks and exporters in view of its persistent fall in overseas markets.
At the Interbank Foreign Exchange, the domestic currency opened steady at 44.43/44 per dollar, but moved up to 44.39 per dollar. At 10.30 a.m., the rupee was quoting at 44.41/42. It moved in a range between 44.39 and 44.47 in the morning deals.
According to a forex dealer, banks and exporters preferred to reduce their dollar positions on the back of sustained fall of the greenback in the New York market.
The US dollar fell for the sixth straight day on Thursday in the New York market, as stocks inched up and gave currency traders more reason to shift out of perceived safe havens.
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