Rupee up by 13 paise against dollar in early trade

The rupee strengthened by 13 paise to 45.52 against the US dollar at the Interbank Foreign Exchange on Friday, against the backdrop of government raising the cap on foreign institutional investments and corporate debt by $5 billion, each.

Forex dealers attributed the gain to the government's move to increase the current limit of FIIs in government securities of $10 billion in corporate bonds to $20 billion.

However, month-end demand of dollar capped the rupee gains.

The rupee had ended 7 paise lower at Rs 45.65/66 against the dollar in the previous session.

Meanwhile, the Bombay Stock Exchange index Sensex fell by 27.49 points, but later recovered 80 points in the morning trade on Friday.