Rupee up 16 paise against dollar

The Indian rupee on Wednesday appreciated by 16 paise against the dollar in early trade, taking cues from other Asian currencies.

The Indian rupee on Wednesday appreciated by 16 paise against the dollar in early trade, taking cues from other Asian currencies.

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At the Interbank Foreign Exchange (forex) market, the domestic currency gained 16 paise to quote at 48.40/41 a dollar over its previous close of 48.56/57.

Forex dealers said major Asian currencies gaining strength against the dollar buoyed the rupee sentiment.

The BSE benchmark Sensex on Tuesday closed steady at 14,324.01.