Rupee marginally up in early trade

Mumbai: The Indian rupee strengthened marginally by 2 paise to Rs 44.83 per dollar at the Interbank Foreign Exchange on Thursday, supported by a higher opening in the stock market and dollar weakness against other currencies.

The rupee had gained 11 paise to close at an over two-and-a-half-month high of 44.85/86 against the US currency in yesterday`s trade, largely driven by a smart rally in local equities amid expectations of increased capital inflows.

Forex dealers said a higher opening in the stock market and dollar weakness against other currencies helped the rupee strengthen.

Meanwhile, the Bombay Stock Exchange Sensex was up by 119.32 points, or 0.65 per cent, at 18,325.48 in opening trade today.