The rupee edged higher by 5 paise to 63.75 against the dollar in early trade on Friday at the Interbank Foreign Exchange due to increased selling of the U.S. 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.
The rupee had snapped its three-day losing streak against the U.S. dollar by ending 21 paise higher at 63.80 in Thursday’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 on Friday.
