Rupee rises by 11 paise to 48.85 a dollar in opening trade

At the Interbank Foreign Exchange (Forex) market, the domestic unit appreciated by 11 paise to quote at 48.85 a dollar over the previous close. Yesterday, the rupee closed 7 paise higher at 48.96/97 in volatile trade.

Forex dealers said dollar selling by exporters and fresh capital inflows in line with firming trends on other Asian markets, mainly boosted the rupee sentiment. A weak dollar overseas also supported the rupee.