Rupee gains 10 paise against US dollar

Mumbai, May 11 (PTI) The Indian rupee gained 10 paise to
44.64 per US dollar in early trade on fresh selling of dollars
by banks on the back of dollar weakness in overseas markets.
At the Interbank Foreign Exchange, the rupee resumed
higher at 44.65/66 per dollar as against the previous closing
level of 44.74/75 per dollar and edged up further to 44.64 per
dollar before quoting at 44.71/72 per dollar at 1030 hours.
It moved in a range between 44.64 and 44.72 per dollar in
morning deals.
Fresh selling of dollars by banks in view of the weak
dollar in overseas markets mainly boosted the rupee value
against the dollar, a forex dealer said.
The dollar edged lower against the euro in the New York
market on Tuesday after the shared currency touched a
three-week low following reports that Greece may get further
restructuring aid.
Meanwhile, crude oil extended gains in Asian trade on
Wednesday on fears that record floods might affect refineries
along the Mississippi River in the United States, analysts
said.
New York's main contract, light sweet crude for delivery
in June, rose 14 cents to USD 104.02 a barrel in morning
trade.