Rupee up 75 paise against $ in early trade

The Indian rupee today appreciated by another 75 paise at 46.97 against the greenback in early trade on heavy dollar selling by state-run banks and increased inflows by foreign funds amid surging equity markets.

At the Interbank Foreign Exchange (forex) market, the domestic currency, which gained 91 paise and closed at one-month high of 47.73/74 yesterday, opened strong by 53 paise but later moved up by 75 paise at 46.97 against the US $.