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The rupee strengthened by 7 paise to Rs 44.76 a dollar at the Interbank Foreign Exchange on Tuesday, supported by a higher opening in the stock market and dollar weakness against other Asian currencies.
The rupee had depreciated by 16 paise to close at Rs 44.83/84 against the US currency in yesterday’s trade on renewed dollar demand from banks and importers despite a weak dollar overseas.
Forex dealers said dollar weakness against other Asian currencies and a higher opening in the stock market helped the rupee’s rise.
Meanwhile, the Bombay Stock Exchange Sensex was up by 130.76 points, or 0.69 per cent, at 19,073.90 in opening trade today.
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