Re appreciates 27 paise against $

The rupee today appreciated 27 paise against the US currency in opening trade on dollar selling by exporters amid surging trend in Asian stock markets.

At the Interbank Foreign Exchange (Forex) market, the domestic currency traded at 48.18 against the greenback, a gain of 27 paise over the previous close of 48.45/46.

Dealers said that the rupee gained on dollar selling by banks and exporters after an upward trend in Asian equity markets raised hopes for rise on domestic bourses.