The Indian rupee appreciated by 12 paise to Rs 47.43 per US dollar in early trade on the Interbank Foreign Exchange today, supported by gains registered by the euro against the American currency and a higher opening in the domestic stock market.
The rupee had ended 9 paise higher at Rs 47.55/56 against the US dollar in the previous session, snapping its eight-session-long losing streak amid firm equity markets and dollar weakness overseas.
Dealers said dollar weakness against the euro and other currency rivals and gains recorded by domestic bourses in early trade today were mainly responsible for the rupee's rise.
Meanwhile, the Bombay Stock Exchange Sensex was up by 180.58 points, or 1.07%, and was trading above 17,000 points at 17,057.12 in early trade today.
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