The rupee rose by 17 paise to 54.26 against the dollar in early trade on Wednesday at the Interbank Foreign Exchange as the American currency weakened against euro and yen overseas.

Forex dealers said dollar’s weakness against euro and other currencies in the global market and increased selling of American currency by exporters, supported the rupee.

Meanwhile, the BSE benchmark Sensex fell by 23.84 points, or 0.13 per cent, to 18,793.54.

The rupee had ended higher by 18 paise at 54.43 against the U.S. dollar in the previous session on the back of dollar sales by exporters and inflows from foreign investors.

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