The Indian rupee appreciated by 20 paise to Rs. 43.98 per dollar in early trade on the Interbank Foreign Exchange on Wednesday on the back of the dollar weakness against the euro and other Asian currencies and a higher opening in the stock market.
The rupee had appreciated by 22 paise to close at a three-and-a-half month high of 44.18/19 against the U.S. currency in yesterday’s trade due to fresh dollar selling.
Forex dealers said dollar weakness against the euro and other Asian currencies overseas along with a recovery in the stock market kept the rupee sentiment firm against the American dollar.
Meanwhile, the Bombay Stock Exchange Sensex rose by 52.93 points, or 0.29 per cent, at 18,571.15 in opening trade today.