Rupee gains 12 paisa on dollar weakness against global currencies

Rupee firmed up by 12 paise to 68.21 against the US dollar on Wednesday at the Interbank Foreign Exchange after selling of the American currency by exporters and banks intensified.

Dealers said fresh selling of the American unit and the dollar's weakness against other currencies overseas, barring yen, gave the rupee more muscle.

Further, a higher opening in the domestic equity market supported the rupee uptrend, they added.

On Tuesday, rupee had lost 11 paise to close at a fresh one-month low of 68.33 against the American currency on heavy dollar demand from corporates and importers.Meanwhile, the benchmark BSE Sensex climbed 58.55 points, or 0.21 per cent, to 26,701.79 in morning trade.