INR moves up

The Indian rupee appreciated by 12 paise to Rs. 45.99 per US dollar in early trade on the Interbank Foreign Exchange on Wednesday, on the back of dollar weakness against a basket of other Asian currencies overseas and a firm opening in the domestic stock market.

The rupee had ended 13 paise lower at Rs. 46.11/12 against the US dollar in the previous session due to  sustained demand for the American currency from importers, despite a smart recovery in local stocks.

Dealers said dollar weakness against other major Asian currencies overseas and moderate gains registered on domestic bourses this morning were responsible for the rupee's rise.

Meanwhile, the Bombay Stock Exchange Sensex rose by 140.32 points, or 0.83 per cent, to 17,003.13 points in early trade.