Rupee up 1 paise against US dollar in early trade

The Indian rupee edged up marginally by 1 paise to Rs 44.72 against the US dollar in range-bound trade on the Interbank Foreign Exchange on Wednesday morning on dollar-selling by some banks.

A lower opening in the stock market capped the gains.

Forex dealers said dollar-selling by some banks helped the rupee to trade a shade higher against the American currency, but the lower opening in the stock market restricted the gains.

The rupee ended 13 paise higher at Rs 44.73/74 against the American currency in the previous session amid heavy selling of the US dollar.

Meanwhile, the Bombay Stock Exchange benchmark Sensex fell by 35.96 points to 18,272.70 in opening trade on Wednesday.