Rupee gains 12 paise against US dollar in early trade

The Indian rupee strengthened by 12 paise to Rs 49.02 per US dollar in early trade on the Interbank Foreign Exchange on Friday, supported by a higher opening in the equity market and steady euro against the American currency.

Forex dealers said a strong opening in the domestic stock market and steady euro overseas against the US dollar gave a boost to the rupee sentiment.

The rupee had gained 4 paise to close at Rs 49.14/15 against the US dollar yesterday following late dollar-selling by exporters and a recovery in stocks.

Meanwhile, the 30-share BSE Sensex rose by 220.33 points, or 1.26 per cent, to 17,702.26 in opening trade on Friday.