Rupee gains 11 paise against US dollar in early trade

The Indian rupee appreciated by 11 paise to Rs 44.75 per dollar in opening trade on the Interbank Foreign Exchange on Thursday, supported by dollar weakness against the euro and other Asian currencies and a higher opening in the stock market.

The rupee had appreciated by 17 paise to close at a one-week high of 44.86/87 against the US currency in yesterday’s trade on sustained foreign fund inflows amid selling of dollars by exporters.

Forex dealers said dollar weakness against the euro and other Asian currencies overseas and a higher start in the stock market kept the rupee sentiment firm against the American dollar.