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Rupee appreciates 61 paise against dollar

The Indian rupee today strengthened by 61 paise against the US currency in opening trade on increased capital inflows by foreign funds amidst firming Asian equity markets.

business Updated: Dec 17, 2008 11:04 IST

The Indian rupee on Wednesday strengthened by 61 paise against the US currency in opening trade on increased capital inflows by foreign funds amidst firming Asian equity markets, dollar selling by exporters and weakening of dollar against other currencies.

At the Interbank Foreign Exchange (Forex) market, the domestic currency traded at 47.30 against the greenback, a smart rise of 61 paise over the previous close of 47.91/92.

Forex dealers said that the rupee gained on dollar selling by banks and exporters after an upward trend in Asian equity markets raised hopes for strong opening on domestic bourses.

Asian markets today opened higher with Hong Kong's Hang Seng going up 2.7 per cent, while Japan's Nikkei 225 was up nearly one per cent in early trade.

The rupee, appreciated by 13 paise at 47.91/92, a one-month high in the last trading session.

Meanwhile, the BSE Sensex on Tuesday closed 144.59 points higher at 9976.98.