Rupee gains 5 paise against dollar

Mumbai: The rupee rose by 5 paise to 55.23 against the dollar in early trade on the Interbank Foreign Exchange on Monday as the American currency weakened against other currencies overseas.

Besides, dollar selling by banks and exporters along with a higher opening in the domestic equity market on foreign funds inflows also supported the rupee, traders said.

The rupee had ended marginally down by 1 paise at 55.28 against the US dollar in the previous session on Friday.

Meanwhile, the BSE benchmark index Sensex recovered by 21.84 points, or 0.12 per cent, to 17,579.58 in early trade today.