Rupee gains 18 paise against dollar in early trade

Mumbai, Oct 24: The rupee strengthened by 18 paise to Rs 49.83 per US dollar in early trade on the Interbank Foreign Exchange today (Oct 24), tracking gains registered by euro and other currencies against the American currency.

Forex dealers said a strong opening in the stock market and dollar losses against the euro and other currencies overseas kept the rupee sentiment firm. They added, however, that month-end dollar demand from importers restricted the gains.

The rupee had lost 21 paise to close at Rs 50.01/02 against the US dollar on Friday Meanwhile, the Bombay Stock Exchange 30-share index, Sensex, rose by 300.83 points or 1.79 per cent to 17,086.47 in opening trade today.

PTI