Rupee up 11 paise at 47.83 a dollar in early trade

The Indian rupee on Monday hardened by 11 paise to touch a one-month high of 47.83 a dollar in early trade in line with other Asian currencies, which gained against the greenback, amid expectations that the local bourses would open on a strong note.

Forex dealers said dollar's weakness against leading currencies overseas mainly influenced the rupee sentiment here. They said the domestic equity markets are likely to open on a strong note in tandem with other Asian bourses, which added up to 0.83 per cent in morning trade.

At the Interbank Foreign Exchange (Forex) market, the domestic unit appreciated by 11 paise to 47.83 a dollar against its previous close of 47.94. The Indian benchmark Sensex on Friday spurted by 282.35 points or 1.83 per cent to a 13-month high of 15,670.31.