Rupee opens 10 paise stronger at 44.82/84 as Yen falls

Mumbai, Apr 25: Rupee opened 10 paise stronger at 44.82/84 per US dollar as compared to the last close of 44.92, said the dealer in the foreign exchange market.

Rupee was stronger this morning as Japanese Yen fell drastically in the international market by almost 50 basis point, as well as in the domestic market some foreign banks had huge selling of dollar, added the dealer in the market.

Rupee went up to 44.77/78 this morning but later nationalised banks bought dollar leading to the Indian unit weakening to 44.83/85 in the mid-morning trade.

The crude oil price in the New York Mercantile Exchange (NYMEX) meanwhile was hovering around the all time high at USD73.18 per barrel, which could weaken rupee.

The Indian equity market slipping into red this morning with a loss of 148 points on BSE Sensex to 11,766 might bring rupee under pressure.

UNI