Rupee rises 21 paise to 69.09 versus US dollar

The rupee appreciated by 21 paise to 69.09 against the US dollar in opening trade on Wednesday, driven by weakening of the greenback in overseas markets.

The rupee opened strong at 69.26 at the interbank forex market then gained further ground and touched 69.09 amid a weak opening in domestic equities, displaying gains of 21 paise over its last close.

The rupee on Tuesday had strengthened by 37 paise to close at 69.30 against the US dollar.

Forex dealers said, selling of the American currency by exporters supported the rupee. Moreover, IMF's bullish growth outlook for the Indian economy also added strength to the local currency.