Mumbai: The rupee turned stronger after a four-day slide and was quoted 11 paise higher against the greenback in morning trade on 28 June, on exporters dollar selling amid a slowdown in FII inflows.
In fairly active trade at the interbank Foreign Exchange (forex) market, the local currency resumed higher at 40.96/97 per dollar from the previous close of 41.00/41.01 and later surged to 40.90/91 a dollar in late morning deals.
Attributing the turnaround to a rally in high-yielding Asian currencies this morning, forex dealers said exporters dollar sales at 41.00 level helped rupee recover smartly.
A sharp rally in equity markets in morning trade also aided the rupee sentiment.
The benchmark Sensex was 106 points up on the back of firm global cues.