Rupee up 11 paise against dollar in early trade

Mumbai: The rupee gained another 11 paise to trade at 63.00 against the dollar in early morning session at the Interbank Foreign Exchange market on increased selling of the US currency by exporters.

Forex dealers said besides selling of the American currency by exporters, a higher opening in the domestic stock market buoyed the rupee sentiment but dollar's strength against other currencies overseas limited gains.

The rupee had gained 50 paise, the steepest single day gain in last seven months, to close at 63.11 against the dollar on Thursday, in line with strong recovery in stocks.

Meanwhile, the benchmark BSE Sensex on Friday rose by 314.29 points, or 1.16 per cent, to trade at 27,440.86 in early trade.