Rupee up 13 paise against dollar in early trade

Mumbai, Jul 4: The rupee strengthened by 13 paise to 59.60 against the dollar in early trade today at the Interbank Foreign Exchange market on increased selling of the American currency by exporters and banks.

Besides, a higher opening in the domestic equity market also supported the rupee, but dollar’s gains against other currencies overseas on a strong US jobs reports capped the rise, forex dealers said.

The rupee after surging to three-week highs, lost 4 paise to close at 59.73 against the dollar in yesterday’s trade on weakness in local stocks and persistent demand for the American currency from importers.

Meanwhile, the benchmark BSE Sensex recovered 53.97 points, or 0.21 per cent, to 25,877.72 in early trade today.