Rupee rises by 9 paise against dollar in opening trade

The Indian rupee on strengthened by nine paise to quote at almost six-week high of 47.86 against the US dollar in early trade on hopes of more capital inflows as local bourses may open on a strong note.

The Indian rupee on strengthened by nine paise to quote at almost six-week high of 47.86 against the US dollar in early trade on hopes of more capital inflows as local bourses may open on a strong note.

A weak dollar against other currencies also supported the Indian rupee, forex dealers said. At the Interbank Foreign Exchange (Forex) market, the domestic unit appreciated by 9 paise at 47.86 a dollar over the previous close. Yesterday, the rupee closed 18 paise higher at 47.95/96.

Forex dealers said expectations of more capital inflows into equity markets, which rose to a 16-month high in yesterday's trade, mainly boosted the rupee sentiment.

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