Rupee gains 18 paise against dollar in early trade

MUMBAI: The rupee strengthened by 18 paise to Rs 44.40 against the US currency at the Interbank Foreign Exchange market in the morning trade today tracking dollar's weakness against other major currencies.

Strong capital inflows into equities by foreign funds also supported the rupee.

Forex dealers said besides dollar's losses against other major currencies, fresh capital inflows into equities by foreign funds kept the rupee sentiment firm.

The rupee had lost 28 paise to Rs 44.58/59 against the US currency in the previous session on Friday on fresh dollar demand from banks and importers.

Meanwhile, the Bombay Stock Exchange index Sensex rose by 141.90 points, or 0.59 per cent, to 20,307.76 in the opening trade.