Rupee gains 2 paise against US dollar

Mumbai: The rupee edged up 2 paise to 64.55 against the US dollar in early trade at the interbank forex market on Friday on increased selling of the American currency by exporters and banks.

Besides, a higher opening in domestic stocks supported the rupee, forex dealers said.

However, the dollar’s recovery against some currencies overseas restricted the local unit’s upmove.

On Thursday, the rupee had lost further ground to end at a near two-week low of 64.57 against the US currency, falling by 5 paise on sustained demand for the dollar from importers despite a strong rebound in equities.

Meanwhile, benchmark BSE Sensex rose 190.36 points, or 0.57 per cent, to 33,139.57 in early trade on Friday.