Rupee up 31 paise against $ in early trade

The Indian rupee today hardened by 31 paise at 50.20 against the greenback on account of fresh capital inflows by funds amid a weak dollar overseas.

At the Interbank Foreign Exchange (Forex) market, the domestic unit, which ended lower by 28 paise at 50.51/52 against the $ yesterday, rose by 31 paise on capital inflows by foreign funds as the local equity market is expected to open on a stronger note in line with other Asian markets.

Besides, forex dealers said weakening $ against other major currencies also led to the upward movement of the local unit.