Rupee appreciates to 49.90 against dollar

The Indian rupee opened higher on Monday as local shares are expected to rise,following leads from regional stocks,raising expectations of capital flows that would support the currency.

At 9:06 a.m.,the partially convertible rupee was at 49.90/92 compared with Thursday8217;s close of 50.00/02,its strongest close since Feb. 25. The market was closed on Friday for a holiday.

Nifty futures traded in Singapore were up 1 per cent.

Offshore one-month rates were quoting at 48.98/50.08 per dollar,slightly weaker than the onshore spot rate.