MUMBAI: The Indian rupee appreciated by 13 paise to trade at 50.32 against the US currency in early trade on Wednesday, snapping a four-day weak trend, on hopes of fresh capital inflows by foreign funds, as domestic bourses are likely to open higher keeping in line with firm Asian markets.
However, a month-end dollar demand from refiners capped rupee’s gains to some extent.
At the Interbank Foreign Exchange (Forex) market, the domestic unit was quoted 13 paise higher at 50.32 a dollar.
Forex dealers said a positive trend in the Asian equity markets raised expectations of fresh capital inflows by foreign funds into the domestic stock markets, mainly supported the rupee.
The Indian currency had ended 15 paise lower at 50.45/47 against the doller on Tuesday and the Bombay Stock Exchange benchmark Sensex closed 81.39 points down at 10,898.11 points.