Rupee gains 7 paise against US dollar in early trade

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Mumbai: The Indian Rupee appreciated by 7 paise to Rs 44.67 per dollar at the Interbank Foreign Exchange on Wednesday, supported by a higher opening in the stock market and dollar weakness against the euro and other Asian currencies.

The rupee had depreciated by 2 paise to close at Rs 44.74/75 against the US currency in yesterday`s trade due to dollar demand from banks and importers in view of a firm trend overseas.

Forex dealers said dollar weakness against the euro and other Asian currencies overseas and a higher opening in the stock market helped the rupee gain some ground against the American dollar.

Meanwhile, the Bombay Stock Exchange Sensex was up by 62.23 points, or 0.33 per cent, at 18,575.00 in opening trade today.

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