Rupee appreciates by 13 paise against U.S. dollar

Mumbai: The Indian rupee appreciated by 13 paise to Rs 44.37 against the U.S. dollar in early trade on the Interbank Foreign Exchange on Monday, boosted by gains posted by the euro and other currencies against the American dollar overseas.

A higher opening in the stock market also supported the rupee’s rise.

The rupee had ended 5 paise lower at Rs 44.50/51 per U.S. dollar in the previous session on fresh dollar demand amid weak local equities.

Forex dealers said dollar weakness against the euro and other currencies overseas after a new European-IMF bailout deal for debt-ridden Greece was announced mainly kept the rupee sentiment firm.

The Bombay Stock Exchange benchmark Sensex moved up by 159.80 points, or 0.87 per cent, to 18,595.99 in opening trade on Friday.