Rupee up 8 paise against US dollar in early trade

The Indian rupee appreciated by 8 paise to Rs 49.07 per US dollar on the Interbank Foreign Exchange in early trade today, tracking gains registered by other Asian currencies against the dollar.

The Indian rupee appreciated by 8 paise to Rs 49.07 per US dollar on the Interbank Foreign Exchange in early trade today, tracking gains registered by other Asian currencies against the dollar.

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Capital inflows into the equities market by foreign funds gave support to the rupee's rise. Forex traders said apart from dollar weakness against other Asian currencies, foreign capital flows into the equities market bolstered the rupee sentiment, but demand for the American currency from importers capped the gains. The rupee ended higher at Rs 49.15/16 per US dollar in the previous session on Friday. Meanwhile, the Bombay Stock Exchange index Sensex rose by 77.49 points, or 0.47 per cent, to 16,310.03 in opening trade today.