The Indian rupee today appreciated by 44 paise against the US currency in opening trade on fresh capital inflows by funds as domestic bourses, after a long weekend, are likely to open higher in line with other Asian markets.

The Asian equity markets today opened higher by up to 5.5 per cent. At the Interbank Foreign Exchange (Forex) market, the local unit, which closed at 50.04/05 in the last trading session, rose by 44 paise to 49.60 a dollar.