The Indian rupee surged by 19 paise to 45.05 against the US dollar in early trade at the Interbank Foreign Exchange today on the back of fresh dollar-selling by exporters and corporates.
The local unit opened higher today at 45.14/15 per dollar against its previous close of 45.24/25.
It fell to a low of 45.30 per dollar during the course of morning deals, but made a smart recovery and appreciated by 19 paise against the American currency.
Forex dealers attributed the bolstered rupee sentiment to fresh dollar-selling by exporters and corporates.
The dollar was under pressure in the New York market yesterday as markets reacted to a short-term rate hike announced by China's central bank.