The Indian rupee strengthened by 34 paise to 47.36 a dollar in early trade at the Interbank Foreign Exchange today, on fresh capital inflows by foreign funds and the U.S. currency’s weakness against other Asian currencies.

The domestic currency had closed 72 paise lower at 47.70/71 in Tuesday’s trading, its weakest level since October 1, 2009.

Forex dealers said the rupee strengthened against the U.S. currency largely on the back of fresh capital inflows by foreign funds into equities and dollar selling by exporters.

Meanwhile, Bombay Stock Exchange benchmark Sensex surged 231.41 points, or 1.44 per cent, to 16,253.89 points in the opening trade in Wednesday.

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