Rupee up 5 paise against dollar in early trade

The greenback's weakness against a basket of other Asian currencies support Indian unit

The rupee appreciated by 5 paise to 55.91 against the American currency in early trade today on the Interbank Foreign Exchange on dollar selling by exporters, amid a higher opening in the stock market.

Besides, dollar weakness against a basket of other Asian currencies overseas also supported the rupee, forex dealers said.

The rupee had closed three paise down at 55.96 against the dollar on Tuesday, amid foreign fund outflows and demand of the US currency from importers.

Meanwhile, the BSE benchmark index Sensex rose by 72.21 points, or 0.43%, to 16,932.01.