Rupee up 15 paise against dollar in early trade

NEW DELHI, 16/05/2012: The rupee slumped to an all-time low of 54.46 against the dollar in afternoon trade on Wednesday, even as the Reserve Bank of India broke its silence over the falling rupee, saying it would do its "best possible to curb volatility" in New Delhi, on May 16, 2012. Photo: V.V. Krishnan

The rupee on Thursday gained 15 paise to 54.60 against the U.S. dollar in early trade at the Interbank Foreign Exchange market on the back of increased capital inflows.

Forex dealers said sustained dollar selling by exporters and banks and a higher opening in the equity market also boosted the rupee sentiment.

However, dollar’s gains against the euro and yen overseas, capped the gains to some extent, they added.

The local currency had ended 23 paise higher at 54.75 against the dollar on Wednesday.