Market Report: Rupee gains 22 paise against dollar in early trade

After a long weekend, the rupee strengthened by 22 paise to 61.39 against the dollar in early trade at the Interbank Foreign Exchange on Tuesday on increased selling of the US 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 also supported the rupee, but a lower opening in the domestic equity market limited the rise.

The domestic currency had gained 14 paise to close at 61.61 against the dollar on October 1.

Forex market remained closed on October 2, 3 and 6 for Gandhi Jayanti, Dussehra and Id-ul-Zuha, respectively.

Meanwhile, the benchmark BSE Sensex fell by 137.34 points, or 0.51%, to 26,430.65 in early trade on Tuesday.