Rupee up 11 paise at 54.75/dollar in early trade

Selling of the US currency by exporters helps rupee

The rupee today appreciated by 11 paise to 54.75 against the dollar in early trade at the Interbank Foreign Exchange (forex) market on selling of the US currency by exporters.

Besides, a strong opening in the domestic equity market and strength in other currencies against the dollar overseas also supported the rupee, forex dealers said.

The rupee had gained three paise to end at 54.86 yesterday on late dollar selling by some exporters and custodian banks.

Meanwhile, the BSE benchmark index Sensex recovered by 151.39 points, or 0.80%, to 19,029.35 in early trade today.