Rupee appreciates against dollar in early trade

The Indian rupee appreciated by 17 paise to 46.39 a dollar in early trade on the Interbank Foreign Exchange today, helped by fresh inflow of global funds into the equity market.

The rupee had closed lower by 7 paise at 46.56/57 against the dollar in yesterday’s trading.

Forex dealers said that fresh capital inflow into equities by foreign funds provided support to the rupee.

Meanwhile, the Bombay Stock Exchange index, Sensex, rose by 111.05 points to 17,523.88 points in the opening trade today.

Rupee gains seven paise against dollar

The rupee today appreciated by seven paise to 45.57 a dollar in early trade in line with other firming Asian currencies amid higher capital inflows by foreign funds.

Dealers said dollar’s weakness against other Asian currencies and continued capital inflows by overseas funds into equities, supported the rupee sentiment.

At the Interbank Foreign Exchange (Forex) market, the Indian rupee strengthened by seven paise to 45.57 a dollar.

The domestic unit had ended 14 paise higher at 45.64/65 yesterday.

Foreign Institutional Investors (FIIs) have pumped in more than USD 1.6 billion in the current month so far.

Meanwhile, the Bombay Stock Exchange index Sensex was up by 23.78 points in opening trade today.