Rupee up 9 paise against dollar in early trade

The rupee on Thursday rose by nine paise to 55.36 against the US dollar in early trade at the Interbank Foreign Exchange on selling of American currency by exporters and banks.

Forex dealers said a higher opening in the domestic equity market and strengthening of euro against the dollar overseas also supported the rupee.

Meanwhile, the BSE benchmark index Sensex rose by 105.22 points, or 0.56 per cent, to 18,947.30 in opening trade.

The rupee had gained 28 paise to close at 55.45 against the dollar in the previous session on Tuesday, buoyed by a stable outlook for the economy by rating agency Moody’s and a sharp rise in local stocks.

The forex and money markets remained closed yesterday on account of ‘Guru Nanak Jayanti’