Rupee gains 5 paise against US dollar in early trade

The rupee appreciated by five paise to 45.77 a dollar in the early trade on Thursday in line with other rising Asian currencies amid increased capital inflows by foreign funds into the firming domestic equities market.

At the Interbank Foreign Exchange (Forex) market, the rupee rose by five paise to 45.77 a dollar. The domestic currency had closed 19 paise higher at 45.82/83 in the previous session highest level in the past six weeks.

Forex dealers said rupee gained against the US currency in line with other Asian units and dollar selling by banks and exporters. Besides, fresh capital inflows by foreign funds into firming local stock markets also supported the Indian rupee, they added.