Rupee gains 5 paise in early trade

Mumbai: The Indian rupee strengthened by 5 paise to 44.69 per US dollar at the Interbank Foreign Exchange on Wednesday, supported by higher opening in the domestic stock market and dollar weakness against other Asian currencies.

Forex dealers said in addition to dollar losses against other Asian currencies, a higher opening in the stock market and dollar inflows from overseas also kept the rupee sentiment firm.

The rupee had appreciated by 4 paise to close at Rs 44.74/75 against the dollar in the previous session amid bullish equities.

Meanwhile, the Bombay Stock Exchange index Sensex was up by 137.42 points, or 0.71 per cent, to 19,427.60 points in opening trade today.