Rupee up 19 paise at 47.44 a dollar in early trade

The Indian rupee on Tuesday touched a two-month high of 47.44 against the US dollar in early trade on increased capital inflows amid expectations that the local bourses would open on a strong note.

At the Interbank Foreign Exchange (Forex) market, the domestic unit appreciated by 19 paise to 47.44 a dollar against its previous close of 47.63.

Forex dealers said increased capital inflows as stock markets are ruling higher and expectations that they would again open on a strong note led to the rise in the local unit.

Weakness in the dollar overseas also boosted rupee sentiment, they said.