In early trade Rupee up 9 paise against U.S. dollar

The Indian rupee strengthened by 9 paise to Rs. 45.06 against the U.S. dollar in early trade on the Interbank Foreign Exchange on Wednesday, largely in line with other stronger Asian currencies overseas and a higher opening in the stock market

The rupee had depreciated by 29 paise to close at a nearly two-month low of Rs. 45.15/16 against the U.S. dollar in the previous session on Monday following weakness in equities and fresh dollar demand.The forex and money markets remained closed on Tuesday on account of “Buddha Purnima“. Forex dealers said dollar weakness against other Asian currencies and the higher opening in the stock market mainly supported the rupee.