Indian rupee up 12 paise vs dollar in early trade

The rupee today recovered by 12 paise to 61.18 against the dollar in early trade at the Interbank Foreign Exchange following dollar selling by exporters and banks.

A higher opening in the domestic equity market and a weak dollar against some currencies overseas also supported the gain in rupee,forex dealers said.

The rupee had tumbled 53 paise to a fresh closing low of 61.30 against the dollar in yesterday’s trade on renewed dollar demand from importers and bearish local stocks.

Meanwhile,the BSE benchmark index Sensex recovered by 27.35 points,or 0.15 per cent,to 18,692.23 in early trade today.