Rupee gains 7 paise against US dollar in early trade

Mumbai, Oct 25: The rupee strengthened by 7 paise to Rs 49.75 against the US dollar in early trade on the Interbank Foreign Exchange today (Oct 25), boosted by higher openings in the stock market.

However, sentiment turned cautious ahead of the Reserve Bank of India's monetary policy review later today. The rupee ended 19 paise higher at Rs 49.82/83 against the dollar in the previous session following smart rebound in stocks and fresh dollar selling by exporters.

Dealers said a higher opening in the stock market mainly supported the rupee in cautious trade. The Bombay Stock Exchange benchmark Sensex moved up by 114.48 points, or 0.67 per cent, to 17,053.76 in opening trade today.

PTI