Rupee up 4 paise to 61.98 against dollar in early trade

Mumbai: The rupee strengthened by four paise to 61.98 against the US dollar in early trade today at the Interbank Foreign Exchange following increased selling of the American currency by exporters ahead of RBI's policy review.

Dealers said increased selling of the dollar by exporters supported the rupee but a lower opening in the domestic equity market and the Greenback's rise against some overseas currencies, capped the gains.

The rupee had gained just one paisa to close at 62.02 against the dollar in yesterday's trade on late selling of the US currency by exporters and some banks.

Meanwhile, the benchmark BSE Sensex fell by 65.35 points, or 0.23 per cent, to 28,494.27 in early trade.