Rupee inched up at 40.27/28 per dollar

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Mumbai, Mar 4 (UNI) The Rupee inched up by ten paise to open at 40.27/28 against the US Dollar after closing at 40.37/38 per dollar in previous session on positve note in stock market in the early trade.

The local unit regained against greenback in the earky trade as traders hoped the Indian equity market might attract some foreign buyers after the previous day's plunge, but worries about global markets and the trade deficit were limiting gains, dealers said.

The Indian currency hit near the six and half month low yesterday tracking the Sensex, which crashed over 900 points to close below 17k level, marked the second biggest single day point fall.

However, it opened today with a positve gap, but soon slid more than 140 points in the mid-morning trade. Moreover, the rupee might track the movements in the local stock market, dealers added.

UNI PP DB SM1238

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