The Indian rupee appreciated by another 41 paise to almost one month high of 49.93 against the US currency in early trade today on expectations of increased capital inflows by foreign funds as domestic bourses may open in positive territory.
Weaker dollar overseas against the basket of currencies also supported the Indian currency.
At the Interbank Foreign Exchange (Forex) market, the domestic unit was quoted higher at almost one month high of 49.93 a dollar, up by 41 paise over the previous close of 50.34/35.
Dealers said weaker dollar overseas and firming Asian stock markets, which raised hopes of increased capital inflows by foreign funds into the domestic stock markets, which may open in positive zone, mainly supported the rupee.
The rupee ended 36 paise higher at 50.34/35 against the USD on Thursday. The currency market was closed on Friday for 'Ram Navmi'.
