Rupee gains 8 paise against dollar in early trade

Extending its rising streak for the third straight day, the rupee appreciated by 8 paise to 61.28 against the dollar in early trade at the Interbank Foreign Exchange on Tuesday on sustained selling of the U.S. currency by exporters and banks.

Forex dealers said besides increased selling of the American currency by exporters and banks, the dollar’s weakness against other currencies overseas and a higher opening in the domestic equity market supported the rupee.

The domestic currency had gained 8 paise to close at a one-week high of 61.36 against the dollar in Monday’s trade in line with rally in stocks.

Meanwhile, the benchmark BSE Sensex rose 74.19 points, or 0.28 per cent, to 26,504.04 in early trade on Tuesday.