Rupee up 24 paise against dollar in early trade

Mumbai: The rupee on Wednesday gained 24 paise to trade at fresh one-month high of 53.90 in early trade at the Interbank Foreign Exchange market on dollar selling by exporters and increased capital inflows. Forex dealers said strengthening of euro, which reached its best level since February, against the dollar overseas and higher opening in the domestic equity market, also supported the rupee.

The local currency had gained 48 paise to close at a one-month high level of 54.14 on Tuesday against the US currency on robust FII inflows and hopes of lower current account deficit due to falling oil prices.

Meanwhile, the BSE benchmark index Sensex rose by 80.09 points, or 0.43 per cent, to 18,825.02 in early trade on Wednesday.