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Mumbai: The rupee inched up in early trade on Tuesday as a rise in Asian stock markets calmed concerns of capital outflows, while the dollar's weakness against some Asian units also helped.
At 9:20 a.m. the partially convertible rupee was at 50.97/98 per dollar, stronger than its previous close at 51.17/19.
Nifty futures traded in Singapore were up more than 1 per cent pointing to a firmer start in the local market. One-month offshore non-deliverable forward contracts was quoted at 51.27/37, weaker than the onshore spot rate.
The dollar advanced against the yen on Tuesday, buoyed by Japanese investors' demand for dollars on the last day of Japan's business year. However, most other Asian units were stronger against the dollar.
