Mumbai: The Indian rupee on Tuesday appreciated
by 4 paise against the US currency in early trade on hopes of
fresh capital inflows into equity markets in line with firming
trends on other Asian markets.
At the Interbank Foreign Exchange (Forex) market, the
local unit appreciated by 4 paise to 46.81 a dollar. The
rupee ended 13 paise lower at 46.85/86 in yesterday.
Dealers said expectations of fresh capital inflows into
domestic equities by foreign funds which may open higher
in tandem with other Asian markets mainly supported the Indian
rupee.
Asian markets were up over one percent in early trade.
Dollar's firmness against other currencies, however,
capped the gains of rupee, dealers said.
PTI
First Published: Tuesday, December 22, 2009, 10:38