Rupee up 5 paise against dollar in early trade

The rupee today gained 5 paise to 61.86 against the dollar in early trade at the Interbank Foreign Exchange market on increased selling of the US currency by exporters.

Forex dealers said strengthening of other currencies against the dollar overseas and a higher opening in the equity market also supported the rupee.

The domestic unit had closed 6 paise lower at 61.91 yesterday on month-end demand for the US currency from importers amid a sluggish equity market. Meanwhile, the benchmark BSE Sensex rose 73.78 points, or 0.35%, to 21,216.79 in opening trade today.