International BusinessRupee up 2 paise against dollar
The Indian rupee rose marginally by 2 paise per US dollar at 46.48 in opening trade today, on hopes of higher capital inflows from foreign funds as the domestic stock market may open higher tracking the firm trend in the Asian markets.
- India, Russia may return to rupee-rouble trade - Re appreciates by 28 paise, at 46.46/$ - Rupee drops to two-week low - Re down 15 paise, at 46.63/$ in early trade - Rupee at 46.44/$, down 33 paise - Re appreciates 28 paise at 46.01/$
The US currency"s weakness against other rival units also supported the rupee.
At the Interbank Foreign Exchange (Forex) market, the local currency, which had ended firm on Friday as well, appreciated by 2 paise to 46.48. The rupee had closed 24 paise higher at 46.50/51 against the US unit in the previous session due to dollar"s weakness overseas.
Forex dealers said expectations of increased capital inflows by foreign funds into equity markets in line with firm trend trends on the other Asian markets mainly supported the Indian rupee.