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Rupee gains 7 paise against US dollar in early trade

The Indian currency had depreciated by 16 paise to close at Rs 44.83/84 against the US currency in Monday's trade, on renewed dollar demand from banks and importers.

twitter-logoPTI | March 29, 2011 | Updated 10:51 IST

The Indian rupee strengthened by 7 paise to Rs 44.76 per dollar at the Interbank Foreign Exchange on Tuesday, supported by a higher opening in the stock market and dollar weakness against other Asian currencies.

The Indian currency had depreciated by 16 paise to close at Rs 44.83/84 against the US currency in Monday's trade, on renewed dollar demand from banks and importers despite a weak dollar overseas.

Forex dealers said dollar weakness against other Asian currencies and a higher opening in the stock market helped the rupee's rise.

Meanwhile, the Bombay Stock Exchange Sensex was up 130.76 points, or 0.69 per cent, at 19,073.90 in opening trade on Tuesday.

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