Persistent dollar selling by banks and exporters, amid sustained capital outflows helped the rupee to rise further by 11 paise to Rs45.05 against the American currency in the early trade.

At the Interbank Foreign Exchange (Forex) market, the domestic unit opened higher at Rs45.08/09 a dollar from its last close of Rs45.16/17.

It later moved in a range of Rs45.05 and Rs45.16 before quoting at Rs45.13/14 per dollar at 10.30am.

Sustained selling of dollars by banks and exporters in view of heavy capital outflows by foreign funds from equity in recent sessions boosted the rupee value, a forex dealer said.

In New York market, the euro rose against the dollar in seesaw trade yesterday with the moves following an earlier spike in the euro after Japan pledged to buy bonds, backed by European governments.

source: google.co.in/business