Rupee gains 5 paise against US dollar in early trade

The Indian rupee strengthened by 5 paise to Rs. 45.19 per dollar at the Interbank Foreign Exchange on Monday, supported by a higher opening in the stock market and dollar weakness against other currency rivals.

The rupee had depreciated by 6 paise to close at Rs. 45.24/25 per dollar in the previous session due to sustained dollar demand from importers and sluggish equities.

Forex dealers said a higher opening in the stock market and dollar weakness against other currencies helped the rupee to strengthen.

Meanwhile, the Bombay Stock Exchange Sensex was up by 76.06 points, or 0.41 per cent, at 18,250.15 in opening trade today.