Rupee up 41 paise against $ in opening trade

The Indian rupee today opened strong by 41 paise at 47.47 against the US currency, a day after it recorded its highest gain of 152 paise in more than a decade, on anticipation of heavy foreign capital inflows as stock markets may continue their rally on Tuesday.

At the Interbank Foreign Exchange (Forex) market, the local unit, which posted its biggest gain of 152 paise in more than a decade to close at 47.88/89 yesterday, moved up further by 41 paise to 47.47 a $ , almost a five-month high.

Forex dealers said the domestic bourses may continue their rally on the formation of a stable government. Besides, the Asian stock markets opened on a strong note today which may also influenced trading sentiment here, thus leading to capital inflows by foreign funds.

The Asian equity markets rose by up to three per cent in the morning trade today.