Rupee up 25 paise Vs dollar in early trade

Snapping its five-session losing streak, the rupee today rose by 25 paise to 56.51 against the dollar in early trade at the Interbank Foreign Exchange market on fresh selling of the US currency by exporters and banks. Besides, weakening of the dollar against yen and other currencies in overseas market following a poor manufacturing report and a higher opening in local stock markets also helped the rupee to recover, forex dealers said.

The rupee had lost 26 paise to close at new 11-month low of 56.76 in previous session fag-end dollar buying and capital outflows from local equities. Meanwhile, the BSE benchmark Sensex rose by 112.57 points, or 0.57 per cent, to 19,723.05 in early trade today.

PTI