Rupee appreciates 35 paise against dollar

MUMBAI: The rupee on Friday appreciated by another 35 paise against the US dollar in early trade following increased dollar selling by exporters amidst expectations of higher opening on the bourses in anticipation of drop in the inflation rate.

At the Interbank Foreign Exchange (Forex) market, the domestic currency traded at 47.73 against the US currency, a rise of 35 paise over the previous close of 48.06/08 a dollar.

The rupee had gained 70 paise at 48.06/48.08 in the previous session on Wednesday, as Forex market remained closed yesterday on account of Christmas.

Forex dealers said dollar firmness against yen and other Asian currencies and against the euro supported the rupee.

Meanwhile, Japan's Nikkei index was up by 0.86 per cent in early trade today while Hong Kong Stock Exchange remained closed on account of Christmas holidays.