Rupee up 13 paise against dollar in early trade on May 22

The rupee today recovered by 13 paise to 58.64 against the dollar in early trade at the Interbank Foreign Exchange market on fresh selling of dollars by exporters and banks.

A higher opening in the domestic equity market also supported the rupee but dollar's gain against other currencies overseas limited the rise of domestic unit, forex dealers said. The rupee had lost 14 paise to end at 58.77 against the dollar yesterday on sustained demand for the US currency from importers amidst negative local equities.

Meanwhile, the benchmark BSE Sensex rebounded by 125.37 points, or 0.52%, to 24,323.39 in early trade today.