Mumbai: The rupee on Wednesday appreciated by 61 paise against the US dollar 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 Rs47.30 against the greenback, a smart rise of 61 paise over the previous close of Rs47.91/92.
Forex dealers said 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 opened higher with Hong Kong’s Hang Seng going up 2.7%, while Japan’s Nikkei 225 was up nearly 1% in early trade on Wednesday.
In the last trading session the rupee appreciated by 13 paise at Rs47.91/92, a one-month high.