On Thursday, the rupee raised by 23 paise to trade at fresh three-month high of 53.07 against the U.S. dollar in early trade at the Interbank Foreign Exchange on sustained selling of the American currency by exporters and banks and increased capital inflows.

According to forex dealers, besides strengthening of euro and other currencies against the dollar overseas after the European Union's euro zone confidence index jumped for the third straight month as debt concerns slowly ebbed, also supported the rupee.

In fact, The rupee had shot up by 47 paise to close at nearly three-month high of 53.30 on Wednesday against the dollar.

(AW:Samrat Biswas)