Rupee up 11 paise against US dollar in early trade

The Indian rupee strengthened by 11 paise to Rs44.64 against the US dollar in early trade on the Interbank Foreign Exchange today, extending gains for the sixth straight session, supported by capital inflows and a firming trend in the stock market.

The rupee had appreciated by 10 paise to close at Rs44.75/76 against the US dollar in the previous session on the back of rising equities and sustained selling of dollars by exporters and banks.

Forex dealers said steady capital inflows and the higher opening on the stock market continued to keep the rupeer sentiment firm.

The Bombay Stock Exchange benchmark Sensex shot up by 196.87 points, or 1.07% to 18,547.61 in opening trade today.