Rupee up 14 paise to 55.66/dollar

A higher opening in the local equity market has supported the rupee

The rupee today rose by 14 paise to 55.66 against the dollar in early trade at the Interbank Foreign Exchange market as the American currency weakened against the Euro and other currencies overseas.

Besides, a higher opening in the local equity market also supported the rupee, dealers said.

The domestic currency had ended 12 paise lower at Rs 55.80 against the dollar in yesterday's trade on fresh dollar demand from banks and importers amid a rise in May inflation.

Meanwhile, the BSE benchmark index Sensex recovered by 124.20 points, or 0.74%, to 16,802.08 in early trade today.