Indian rupee up 7 paise against US dollar

The Indian rupee on Wednesday rose by seven paise to 53.78 against the US dollar in early trade at the Interbank Foreign Exchange on selling of the US currency amid increased capital inflows.

The local currency had closed stable at 53.85 against the dollar on Tuesday.

Forex dealers said dollar selling by exporters and a higher opening in the equity market mainly boosted the rupee sentiment.

Meanwhile, the BSE Sensex was trading at 19,698.61 - up 137.57 points or 0.70 per cent - in late morning trade on Wednesday.