Indian rupee up 10 paise against US dollar in early trade

Forex dealers said strengthening of euro and other currencies against the dollar overseas,also supported the rupee.

The rupee had gained 7 paise to close at 54.51 against the dollar on Wednesday on smart recovery in local equities and selling of the US currency by exporters.

Forex and money markets had remained closed yesterday on account of “Gudi Padwa”.

Meanwhile,the BSE benchmark index Sensex fell sharply by 294.59 points,or 1.59 per cent,to 18,247.61 in early trade today.