MUMBAI (Reuters) – The rupee rose in afternoon trade on Tuesday as a near 3 percent rise in domestic shares fuelled hopes for foreign fund inflows with the dollar's weakness against major currencies also boosting sentiment.
* At 12:55 p.m. the partially convertible rupee was at 47.43/44 per dollar, stronger than its previous close of 47.555/565. In early trade the rupee dropped as low as 47.80, its weakest since May 28.
* The dollar index, a gauge of the U.S. unit's performance against majors, was down 0.4 percent.
* Indian shares extended gains to nearly 3 percent on Tuesday, as investors saw an opportunity to accumulate after a 2.9 percent fall in the previous session.
* In the currency futures market, the most traded near-term contracts on the National Stock Exchange and the MCX-SX were being quoted at 47.5325 and 47.53 respectively, with the total volume on the two exchanges at about $740 million.
