The Indian rupee appreciated by 31 paise to 49 Rupees 14 paise against the US dollar in early trade at the Interbank Foreign Exchange today. The domestic currency had ended 2 paise lower at 49.46 rupees against the US dollar in the previous session due to strong dollar demand from importers amid weak stock markets. During the morning deals today, the rupee hovered in a range between 49.14 and 49.30 rupees.