Rupee gains 5 paise against dollar in early trade

Mumbai: Extending its climb for the third day, the rupee appreciated by another 5 paise to 64.25 against the US dollar in early session today amid a higher opening of domestic equities.

Dealers said sustained selling of the greenback by banks and exporters backed up the rupee. The dollar turned weak against other currencies overseas even after the US Federal Reserve lifted interest rates and gave a more hawkish outlook.

Yesterday, the rupee had gained 3 paise to end at 64.30 against the US dollar on persistent selling of the American currency by exporters and also helped by a cooling inflation.

The benchmark Sensex rose 73.53 points, or 0.23 per cent, to 31,229.44 in early trade today.