Rupee strengthens by 5 paise against dollar in early trade

The rupee strengthened by five paise to 65.39 per dollar in early trade on Thursday on some selling of the US currency by exporters and banks.

Stock markets opening with gains also boosted the domestic currency, dealers said.

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The rupee had lost 14 paise to close at 65.44 per US dollar on fresh dollar demand from importers.

In global trade, the US dollar had strengthened against major world currencies with the dollar index inching up by 0.08% against a basket of currencies on Wednesday.

Meanwhile, the benchmark BSE Sensex recovered 147.50 points, or 0.50%, to 29,315.18 points in early trade on Thursday.

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