Rupee rises by 13 paise to 48.21/$ in early trade

The Indian rupee strengthened by 13 paise in early trade today on expectations of fund inflows and weakness in the US currency against other Asian currencies.
At the Interbank Foreign Exchange (Forex) market, the domestic unit appreciated by 13 paise to 48.21 a $. The rupee yesterday closed higher by 7 paise at 48.34/35 a $.

Dealers said hopes of increased capital inflows by foreign funds in line with better trends in the other Asian equity markets and dollar's weakness against other currencies mainly supported the Indian rupee.

However, sustained dollar demand from oil refiners for month-end requirements capped rupee's gains, they added.