Re recovers by 11 paise to 48.73/$

The Indian rupee strengthened by 11 paise against the US greenback today in early trade on dollar selling by banks amid hopes of fresh capital inflows by funds and firm opening on the domestic stock markets in line with higher Asian shares.

At the Interbank Foreign Exchange (Forex) market, the domestic currency traded higher at 48.73 against the US currency, a gain of 11 paise over the yesterday's close of 48.84/85 a $.

The rupee closed 16 paise lower at 48.84/85 a $ yesterday.