Rupee rises 13 paise to Rs 56.03/dollar

Dollar selling by exporters & higher opening in equity market supported the rupee

The rupee today rose by 13 paise to Rs 56.03 against the dollar in early trade, snapping four sessions of losses, on the Interbank Foreign Exchange, as the American unit weakened against euro and other currencies overseas.

Forex dealers said dollar selling by exporters and a higher opening in the equity market also supported the rupee.

The rupee had lost 5 paise to close at a four-week low of 56.16 against the dollar yesterday on sustained dollar demand from importers and fresh capital outflows.

In the last four days, rupee has lost 104 paise against the dollar.

Meanwhile, the BSE benchmark index Sensex recovered marginally by 13.61 points, or 0.08%, to 16,859.66.