Re inches up vs $ in early trade
The rupee moved up by two paise to 48.79/80 against the US $ in early trade today on mild selling of dollars from banks.
In quite trade at the InterbankForeign Exchange (Forex) market here, the rupee resumed lower at 48.88/90 per $, but recovered afterwards to 48.79/80 at 1030 hours as against yesterday's closing level of 48.81/82, showing a nominal gain of two paise.
The rupee was traded between 48.77 and 48.88 during the morning trade.
The Indian benchmark Sensex was down 16.22 points at 1030 hours in spite of a firm trend in other Asian markets.
According to analysts, the rupee's rise might cap following sustained capital outflows.
Meanwhile, oil prices traded mixed in Asia today, despite a rise in US crude stockpiles that drove home a lack of demand in the world's biggest energy consumer, analysts said.