Rupee up 19 paise to Rs 56.96/dollar

Influenced by dollar selling by banks and exporters, strong domestic equity market

The rupee rose by 19 paise to Rs 56.96 against the American currency in early trade on the Interbank Foreign Exchange today on dollar selling by banks and exporters, and strong domestic equity market.

However, month-end demand from oil importers for the American currency limited gains.

Selling of dollars by exporters and some banks coupled with a higher opening in the equity market supported the local unit.

The BSE Sensex rose by 42.24 points, or 0.24%, to 17,010.

The rupee had weakened by 13 paise to close at Rs 57.15 per dollar yesterday on sustained month-end dollar demand from oil importers amid a firm US currency overseas.