The Indian rupee appreciated by 11 paise to Rs. 44.59 per US dollar in early trade on the Interbank Foreign Exchange on Wednesday, supported by weakness of the American currency against other Asian rivals overseas and a higher opening in the stock market.

The rupee had depreciated by 23 paise to close at Rs. 44.70/71 against the American currency in Tuesday’s trade amid weak equities and continued dollar demand from importers.

Forex dealers said dollar weakness against other Asian currencies and a higher start in the stock market mainly pushed up the rupee against the dollar.

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