INR tracks Asian counterparts, appreciates against the Dollar

Like most of its Asian counterparts, the Indian National Rupee showed a strong opening at the Interbank Foreing Exchange on Tuesday morning, appreciating by 9 paise to Rs 48.88 per US dollar in early.

Forex dealers said a strong opening in the stock market and dollar losses against other Asian currencies kept the rupee sentiment firm.

The rupee had gained 18 paise to close at one-week high of Rs 48.97/98 against the US dollar in the previous session amid strong selling of the American currency by exporters and banks.

Meanwhile, the Bombay Stock Exchange Sensex rose by 170.39 points to 16,727.39 in opening trade.