Rupee strengthens by 19 paise on Asian cues

The Indian rupee appreciated by 19 paise against the dollar in early trade on Friday taking cue from strong Asian currencies and expectations of increased capital inflow by foreign funds in the domestic equities which are likely to open in the positive.

In active trade at the Interbank Foreign Exchange (forex) market, the domestic currency gained 19 paise to quote at 47.41 over its previous close of 47.60/61. The local unit tumbled 36 paise in yesterday's close.

Forex dealers said a weak greenback against a basket of Asian currencies and a positive outlook for the markets today, buoyed on the rupee sentiment. However, they said, higher crude oil prices overseas restricted gains to some extent.