Rupee gains 7 paise

Mumbai: The Indian rupee appreciated by 7 paise to Rs 44.92 per dollar in opening trade on the Interbank Foreign Exchange today, supported by dollar weakness against the euro and other Asian currencies and a higher opening in the stock market.

The rupee had declined by 13 paise to close at a three-week low of 44.99/45.00 yesterday against the American currency amid weak equities and good dollar demand from some banks and importers.

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

Meanwhile, the Bombay Stock Exchange Sensex was up by 119.14 points, or 0.68 per cent, at 17,625.77 in opening trade today.