Rupee up 47 paise at 48.99 vs $ in early trade

The Indian currency today appreciated by 47 paise to 48.99 against the greenback in early trade on lack of dollar demand amid strong equity markets.

At the Interbank Foreign Exchange (Forex) market, the domestic unit, which moved up by 39 paise to 49.07 on Friday, opened strong by nearly one per cent at 48.99 versus $ following heavy FII inflows into the local equity market.