The rupee appreciated by 17 paise to 49.10 against the dollar on the Interbank Foreign Exchange market in early trade on Wednesday on increased foreign fund inflows amid firm equity markets.

Dealers said besides increased foreign funds inflows and euro’s gains against the U.S. currency in the overseas market on hopes that a new Greek bailout package will finally be approved, supported the rupee.

The rupee had closed flat at 49.27/29 against the US currency in the previous session on Friday after dollar demand from importers, pulled down the local currency from its intra-day high levels.

The forex and money market were closed on Monday on account of ‘Mahashivratri’.

Meanwhile, the 30-share BSE Sensex rose by 106.58 points, or 0.58 per cent, to 18,396.31 in early trade.