Rupee rises by 17 paise to 47.57 a dollar in opening trade

The Indian rupee on Monday strengthened by 17 paise to almost a two-month high of 47.57 against the US currency, following dollar’s weakness against other currencies.

At the Interbank Foreign Exchange (Forex) market, the domestic unit appreciated by 17 paise to quote at 47.57 a dollar.

The rupee had closed 36 paise higher at 47.74/75 in the previous session.

Dealers said increased capital inflows into equity markets and weak dollar overseas following weaker-than-expected US job data, mainly boosted the rupee sentiment.