Rupee gains 5 paise against dollar in early trade

Mumbai: The rupee strengthened by 5 paiseto 66.91 against the dollar in early trade today at the Interbank Foreign Exchange on increased selling of the US currency by exporters and banks amid a higher opening in the domestic equity market.

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

Yesterday, the rupee ended 4 paise down at 66.96 against the US dollar on fresh demand for the American currency from banks and importers. Meanwhile, the benchmark BSE Sensex surged 105.54 points, or 0.37 per cent, at 28,970.25 in early trade today.