Rupee gains five paise

Mumbai: The Indian rupee was up by 5 paise at Rs 44.85 per US dollar in early trade on the Interbank Foreign Exchange today, supported by a higher opening in the stock market.

The rupee had declined by 13 paise to close at Rs 44.90/91 against the American currency yesterday on dollar demand and a downtrend in the equities.

Forex dealers said the higher opening in the stock market and some strength in the euro overseas mainly helped the rupee to recover against the US dollar in early trade.

Meanwhile, the Bombay Stock Exchange Sensex was up by 78.88 points at 18,064.76 in opening trade today.