The Indian rupee strengthened by 7 paise to Rs. 44.76 per dollar at the Interbank Foreign Exchange on Tuesday, supported by a higher opening in the stock market and dollar weakness against other Asian currencies.
The rupee had depreciated by 16 paise to close at Rs. 44.83/84 against the U.S. currency in Tuesday’s trade on renewed dollar demand from banks and importers despite a weak dollar overseas.
Forex dealers said dollar weakness against other Asian currencies and a higher opening in the stock market helped the rupee’s rise.
The Bombay Stock Exchange Sensex was up by 130.76 points, or 0.69 per cent, at 19,073.90 in opening trade Tuesday.
