Rupee opens at 39.72/74 against USD

Mumbai, Oct 19: After some opening volatility in the forex market, the Rupee today opened a bit stronger by about three paise against US dollar at 39.72/74 per dollar as compared to its pervious close of 39.77/78 per dollar.

The partially convertible Indian currency edged up today with dealers debating whether overseas investors follow the sentiments of stock market as a buying opportunity or a reason to withdraw some funds, dealers said.

The local unit was still stronger over 11 per cent against the US currency this year. It was powered by robust overseas investment, a large portion of which has flown through the equity into the stock market, dealers added.

UNI