The Indian rupee surged by 16 paise to Rs 44.88 per dollar at the Interbank Foreign Exchange in early trade Thursday, boosted by dollar weakness against other Asian currencies and a higher opening in the stock market.

The rupee had gained 5 Paisa to close at Rs. 45.04/05 in the previous session on sustained dollar-selling by exporters and banks.

Forex dealers said dollar weakness against other Asian currencies and the euro, in addition to a higher opening in the stock market, supported the rupee gains.