Rupee gains 6 paise against dollar in opening trade

Mumbai: The rupee strengthened by 6 paise at 71.12 against the dollar in opening trade Tuesday, maintaining its upward trend for the sixth straight day on continued selling of the US currency by exporters and banks.

Besides, optimism ahead of index of industrial production (IIP) numbers for December and retail inflation for January, and the dollar weakening against some other currencies overseas, also supported the rupee, forex dealers said.

A positive opening in the domestic equity market gave



the uptrend some momentum, they added.

The rupee opened lower at 71.21, but recovered to trade 6 paise higher at 71.12 against the dollar.

The benchmark BSE Sensex rose 22.20 points, or 0.06 per cent, to 36,417.23 in early session Tuesday.