Also Read - Sensex Hits 49,000 For The First Time, Nifty Above 14,400

Mumbai, May 29: The rupee edged higher by 5 paise to 63.75 against the dollar in early trade today at the Interbank Foreign Exchange due to increased selling of the US currency by exporters and banks. This apart, forex dealers said, a higher opening in domestic stock market and a weakening dollar against other currencies overseas backed up the rupee. (Read: INR to USD forex rates today: Rupee gains back 8 paise against dollar) Also Read - Sensex Rallies Over 300 Points in Early Trade; Nifty Tops 14,200

The rupee had snapped its 3-day losing streak against the US dollar by ending 21 paise higher at 63.80 in yesterday’s trade.Meanwhile, the benchmark BSE Sensex recovered 50.13 points, or 0.18 per cent, to trade at 27,556.84 in early trade today. Also Read - Sensex Drops Over 100 Points; Nifty Slips Below 14,1001