Rupee strengthens by 24 paise against $

The Indian rupee appreciated by 24 paise against the $ in early trade today on increased capital inflows by foreign funds in the domestic bourses.

At the Interbank Foreign Exchange (Forex) market, the domestic unit was quoted lower at 49.38, up 24 paise from its previous close of 49.61/62.

Forex dealers said fresh capital inflows in the domestic markets and the $ weakening against other currencies, supported the rise in the rupee.