Rupee on Wednesday hit a fresh 9-1/2 year high of 39.31 against the US dollar during morning trade, drawing support from the strong surge in Asian equity markets.
The rupee sentiment was also aided by the absence of any dollar demand from banks as well as oil refineries.
In fairly active trade at the Interbank Foreign Exchange (forex) market, the local currency resumed firm at 39.32/34 a dollar from Tuesday's close of 39.44/45 a dollar and later surge to 39.31 level on the back of heavy capital inflows into equity.
Later, it eased modestly and was quoted at 39.34/35
