Indian rupee maintained its higher position against the dollar in afternoon trade Thursday tracking firmer local stocks and also on weak dollar overseas.
The partially convertible rupee was seen trading at 48.34 per dollar at 3.30 p.m stronger than its Wednesday's close of 48.51 per dollar.
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Earlier it had gained to 48.29 per dollar, its highest since August. 14.
The dollar hovered close to its lowest in almost a year against a basket of major currencies on Thursday as firmer share and commodity prices undermined flows into the lower-yielding U.S. currency.
In the currency futures market, the most traded near-month contracts on the MCX-SX and NSE were quoting at 48.4475 and 48.4450 respectively, with the total traded volume on the two exchanges at about $1.1 billion.
