Rupee gains 4 paise against dollar in early trade

The rupee strengthened by 4 paise to 61.80 against the dollar in early trade today at the Interbank Foreign Exchange on increased selling of the US currency by exporters and banks amid sustained foreign capital inflows.

Forex dealers said besides increased selling of the American currency by exporters and banks, dollar’s weakness against other currencies overseas supported the rupee.

A higher opening in the domestic equity market too helped the local currency to rise, they added.

The rupee edged up by two paise to close at 61.84 against the greenback yesterday on stray dollar selling by exporters.