The rupee rose by 8 paise to Rs. 50.23 per U.S. dollar in early trade on the Interbank Foreign Exchange today on dollar selling by exporters.

Dealers said selling of dollars by exporters and euro’s gain against the U.S. currency in overseas markets strengthened the rupee.

However, weak equity market capped the gains.

The rupee weakened by six paise to close at Rs. 50.31/32 per U.S. dollar in the previous session on Friday on fresh dollar demand from importers.

Meanwhile, the BSE benchmark Sensex was down by 79.69 at 16,659.32 in early trade.

More In: Markets | Business