Rupee up 13 paise against dollar in early trade

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Mumbai, May 6 (PTI) The rupee strengthened by 13 paise to 63.31 against the US dollar in the early trade today on fresh selling of the American currency by exporters.

Forex dealers said besides fresh selling of the American currency by exporters, dollar’s weakness against other currencies after a US data showed a sharp rise in the trade deficit, supported the rupee at Interbank Foreign Exchange.

They said, however, a lower opening in the domestic equity markets capped the gains.

The local currency had shed 2 paise to close at 63.44 yesterday’s on persistent dollar demand from banks and importers.

Meanwhile, the benchmark BSE Sensex fell by 82.54 points or 0.30 per cent to 27,357.60 in early trade.