Rupee gains 3 paise against US dollar in early trade

The Indian rupee strengthened by 3 paise to Rs 44.69 per dollar on the Interbank Foreign Exchange on Tuesday, supported by a higher opening in the stock market and increased capital inflows.

However, the dollar’s rise against some other currencies capped the rupee gains.

The rupee had appreciated by 6 paise to close at Rs 44.72/73 against the US currency in yesterday’s trade on fresh selling of dollars by banks and corporates.

Forex dealers said a better opening in the stock market helped the rupee to rise, but the dollar’s strength against some currencies limited the gains.

Meanwhile, the Bombay Stock Exchange Sensex was up by 39.29 points, or 0.21 per cent, at 18,568.25 in opening trade today.