Rupee gains 14 paise against US dollar in early trade

Mumbai: The rupee recovered by 14 paise to 73.33 against the US currency in early trade on Monday, on fresh dollar selling by exporters and higher opening in the domestic equity markets.

At the Interbank Foreign Exchange, the rupee opened up at 73.33 to quote 14 paise higher over its previous closing, on increased selling of the American currency by exporters and banks.

On Friday, the rupee had depreciated by 20 paise to close at 73.47 against the US dollar. Forex dealers said, weakness in the dollar against a few currencies overseas and easing crude



prices gave some support to the local unit.

Globally, Brent crude, the international benchmark, was trading 0.05 per cent down at USD 77.58 per barrel.

The benchmark BSE Sensex started the session on a positive note up by 200.57 points at 33,549.88 in opening trade on Monday.

On a net basis, foreign funds pulled out Rs 1,356.66 crore from the capital markets on a net basis, while domestic institutional investors bought shares worth Rs 1,875.89 crore Friday, provisional data showed.