Rupee Edges Up Against US Dollar

The rupee was quoted slightly up against the dollar at 39.3700/3750 in late morning deals on alternate bouts of buying and selling. In lacklustre trade at the Interbank Foreign Exchange (Forex) market, the Indian unit resumed better at 39.35/36 per dollar from Dec 12''s close of 39.3750/3850 a dollar. Dealers attributed initial firmness to a smart rally in the equity markets this morning. But dollar buying by oil companies to meet their import requirements as global crude oil was quoting high near $94 a barrel, weighed on the rupee sentiment.