Rupee up 5 paise against dollar

The rupee moved up marginally by 5 paise to trade at 51.42 against the dollar on the Interbank Foreign Exchange market in early trade today on increased foreign fund inflows. Dealers said higher opening in equities amid increased foreign funds inflows mainly supported the rupee but dollar’s gains against the euro and some Asian currencies overseas restricted the gains. The rupee had closed 20 paise higher at Rs. 51.47/48 against the US currency yesterday following smart rise in local equities on policy rate cut by the central bank and dollar selling by exporters. Meanwhile, the 30-share BSE Sensex moved up 138.41 points, or 0.80 per cent, to 17,496.35 in early trade today.