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Rupee up against dollar

finance3 The rupee on Monday gained 13 paise against the dollar in early trade, on the back of losses in the US unit against major currencies and
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hopes of an increased capital inflow by foreign funds as markets may open higher following strong Asian cues.
At the Interbank Foreign Exchange (Forex) market, the local currency, which had ended at a one-week high of 47.11/12 on Friday, strengthened by 13 paise to 46.98 today.

Forex dealers said the greenback’s weakness against other currencies and reinforced expectations of market-friendly moves, mainly supported the rupee.

Increased capital inflows in the equity markets, which are expected to open in tandem with other Asia bourses, also supported the rupee, they said.

The Sensex had gained 329.24 points to close at 14,625.25 on Friday.

Meanwhile, Asian bourses are quoting as much as two per cent higher in early trade.
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