Rupee up 11 paise against dollar in early trade

Extending yesterday’s gains, the rupee today rose by 11 paise to 46.40 against the dollar in early trade on hopes of more capital inflows by foreign funds and strong Asian cues.

Dollar’s losses against other currencies also supported the local unit.

At the Interbank Foreign Exchange (Forex) market, the rupee edged higher by 11 paise to 46.40 a dollar. It had ended 13 paise up at 46.51/52 in the previous session.

Forex dealers said expectations of increased capital inflows by foreign funds into domestic market amid firming trend on the Asian bourses pulled rupee up. Also, dollar’s weakness overseas supported the Indian unit, they added.

Hong Kong’s benchmark Hang Seng Index today opened 24.1 points higher at 21,845.60.

The Bombay Stock Exchange benchmark Sensex had yesterday gained 294.21 points, or 1.77 per cent.