Re appreciates by 11 paise against US $

The rupee today further appreciated by 11 paise against the US $ in early trade, the fourth rise in a row, on increased dollar selling by exporters and banks amid firming Asian equity markets.

At the Interbank Foreign Exchange (forex) market, the domestic unit rose by another 10 paise to 49.76 against the greenback in opening trade. The rupee had gained 14 paise to end the day at 49.86/87 against the $ yesterday.

Dealers attributed the rupee's gain to increased dollar selling by banks and exporters after a surging trend in global equity markets.