Rupee firms up 5 paise against dollar

Increased selling of the US currency by exporters and banks helped the rupee

The rupee edged higher by 5 paise to 63.75 against the dollar in early trade today at the Interbank Foreign Exchange due to increased selling of the US currency by exporters and banks.

This apart, forex dealers said, a higher opening in domestic stock market and a weakening dollar against other currencies overseas backed up the rupee.

The rupee had snapped its 3-day losing streak against the US dollar by ending 21 paise higher at 63.80 in yesterday's trade.

Meanwhile, the benchmark BSE Sensex recovered 50.13 points, or 0.18%, to trade at 27,556.84 in early trade today.