Rupee up 14 paise at 54.22/dollar in early trade

Increased selling of US currency by exporters and banks helps rupee

The rupee today gained 14 paise to 54.22 against the dollar in early trade at the Interbank Foreign Exchange on increased selling of the US currency by exporters and banks.

Forex dealers said strengthening of the euro against the dollar overseas and a higher opening in the domestic equity market supported the local currency.

The rupee had gained one paisa to end at 54.36 yesterday on late dollar selling by exporters.

Meanwhile, the BSE benchmark Sensex recovered by 103.29 points, or 0.54%, to 18,987.48 in early trade today.