Re rises by 9 paise to 48.86 a $ in opening trade

The Indian rupee strengthened by 9 paise against the US currency in the opening trade today on dollar selling by exporters.

At the Interbank Foreign Exchange (Forex) market, the domestic unit gained 9 paise to quote at 48.86 a dollar over the previous close.

Dealers said dollar selling by exporters and hopes of fresh capital inflows by foreign funds into equity markets, mainly supported the Indian rupee.

Yesterday, the rupee fell by 71 paise to close at one-month low of 48.95/96.