Rupee gains 28 paise against US dollar in early trade

Mumbai, Oct 5: The Indian rupee rose by 26 paise to Rs 49.14 per US dollar in early trade on the Interbank Foreign Exchange on Wednesday, Oct 5, supported by euro gains against the American currency and a rebound in the domestic stock market.

Dealers said gains registered by the euro and other currency rivals against the dollar overseas and a higher opening in the equity market were responsible for the improved rupee sentiment.

The rupee has been on a losing streak over the past three sessions, declining by 25 paise to Rs 49.40/41 against the US currency in yesterday's trade on sustained dollar demand from banks and importers.

Meanwhile, the BSE Sensex recovered by 115.60 points, or 0.73 per cent, to 15,980.46 in opening trading today.

PTI