Rupee up 7 paise against dollar in early trade

Recovering from nearly four-week low, the rupee on Tuesday rose by seven paise to 62.10 against the dollar in early trade at the Interbank Foreign Exchange market on fresh selling of dollars by exporters.

Forex dealers said besides selling of the American currency by exporters and banks, dollar's weakness against other currencies overseas also supported the rupee.

They said, however, a lower opening of the domestic equity market capped the gains.

The rupee had lost 48 paise to end at nearly four-week low of 62.17 against the dollar on Monday due to capital outflows and fresh dollar demand from banks and importers.

Meanwhile, the benchmark BSE Sensex was down by 161.87 points, or 0.57 per cent, to 28,065.52 in early trade on Wednesday.