The Indian rupee strengthened by 8 paise to Rs. 44.78 per dollar in opening trade on the Interbank Foreign Exchange on Tuesday, supported by dollar weakness against the euro and other Asian currencies and a higher opening in the stock market.
The rupee had depreciated by 14 paise to close at nearly a two-week low of Rs. 44.86/87 against the U.S. currency in Monday’s trade amid good demand for dollar.
Forex dealers said dollar weakness against the euro and other Asian currencies overseas and a higher opening in the stock market mainly supported the rupee against the American dollar.
The Bombay Stock Exchange Sensex was up by 84.37 points, or 0.45 per cent, at 18,350.40 in opening trade on Tuesday.