On Wednesday, the rupee elevated 24 paise to trade at fresh one-month high of 53.90 in early trade at the Interbank Foreign Exchange market on dollar selling by exporters and increased capital inflows.

According to the Forex dealers, strengthening of euro, which reached its best level since February, against the dollar overseas and higher opening in the domestic equity market, also supported the rupee.

Furthermore, on Tuesday the local currency had gained 48 paise to close at a one-month high level of 54.14 against the U.S. currency on robust FII inflows and hopes of lower current account deficit due to falling oil prices. 

(AW:Samrat Biswas)