Rupee gains 6 paise against US dollar in early trade

The Indian rupee gained 6 paise to Rs 51.40 per US dollar in early trade on the Interbank Foreign Exchange today on steady selling of the American currency by exporters.

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However, a lower opening in the equity market restricted the rupee’s gains. Dealers said increased selling of dollars by exporters and range-bound movement of the euro and Asian currencies against the dollar overseas helped the Indian rupee strengthen.

The rupee had gained 74 paise to close at a nearly two-week high of Rs 51.46/47 per US dollar in yesterday’s trade, buoyed by a rally in local stocks and expectations of more capital inflows. Meanwhile, the BSE Sensex fell by 44.75 points, or 0.27 percent, to 16,438.70 in opening trade today.

PTI