Rupee gains 5 paise against dollar in early trade

The rupee strengthened by five paise to 61.81 against the dollar in early trade today at the Interbank Foreign Exchange on increased selling of the US currency by exporters and banks.

Forex dealers said besides increased selling of the American currency, 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 eight paise to close at 61.86 against the dollar in yesterday's trade on account of suspected RBI intervention through state-owned banks.

Meanwhile, the benchmark BSE Sensex fell by 55.22 points, or 0.19 per cent, to 28,282.83 in early trade today.