Rupee marginally up 2 paise against dollar in early trade

Rupee edged higher by 2 paise to 66.19 against the dollar in early trade today on fresh selling of the American currency by exporters and banks ahead of Reserve Bank’s first bi-monthly monetary policy meet for 2016-17. Forex dealers said weakness in the dollar against other currencies overseas also supported the rupee but a lower opening of the domestic equity market capped the gains.

Yesterday, the local currency strengthened by 5 paise to close at 66.21 per dollar on persistent selling of the American unit by banks and exporters amid sustained foreign capital inflows.

Meanwhile, the benchmark BSE Sensex was trading 125.40 points or 0.49 per cent lower at 25,274.25 in early trade.