Rupee up 8 paise against dollar in early trade

Rupee5

Mumbai, Apr 29: The rupee recovered by 8 paise to 60.57 against the dollar in early trade today at the Interbank Foreign Exchange market on selling of dollars by exporters and banks.

A higher opening in the domestic equity market and a weak dollar against euro overseas also supported the gain in the rupee, forex dealers said.

The rupee had closed 5 paise lower at 60.65 against the dollar in yesterday’s trade on sudden demand for the US currency from importers, mainly oil refiners.

Meanwhile, the benchmark BSE Sensex recovered by 45.03 points, or 0.20 per cent, to 22,676.64 in early trade today.