Rupee up 22 paise against dollar in early trade

The Indian rupee today strengthened by 22 paise against the US currency in early trade on expectations of capital inflows by foreign funds amid weakening of dollar against other major currencies.

At the Interbank Foreign Exchange (Forex) market, the local unit, which softened by just two paise at 49.28/29 on Friday, appreciated by 22 paise at 49.06 a dollar largely due to a weak dollar overseas.

Forex delers said Indian equity markets are expected to open on a strong note in line with other Asian markets, thus leading to capital inflows.

The Indian benchmark Sensex ended lower by 240.51 points or 1.98 per cent on Friday.