Marking a four-month high, the Indian rupee opened with a gain of 31 paise and was trading at 66.51 per US dollar in early trade on Tuesday.
According to PTI, the surge can be explained by the selling of the American currency by exporters and banks amid sustained foreign fund inflows.
The rupee opened at 66.55 per US dollar and touched a high of 66.51 per US dollar, last seen four months ago on May 9. This was the fifth consecutive session when the rupee opened higher.
Benchmark Bombay Stock Exchange Sensex was trading 272.70 points up at 28,804.81. Stocks that were leading the rally include Axis Bank (up 3.99 percent at Rs 623.05), Tata Motors (up 3.40 percent at Rs 568.50), Tata Steel (up 2.92 percent at Rs 384.60) and Maruti (up 2.37 percent at Rs 5281) at around 1:25 PM.