Rupee gains 12 paise against dollar in early trade on Tuesday

Mumbai: Continuing its rising streak for the fifth straight session, the rupee gained another 12 paise at 62.04 against the dollar in early trade on Tuesday at the Interbank Foreign Exchange on increased selling of the US currency by exporters and banks amid higher opening of domestic equities.

Besides, encouraging industrial production, which grew to a five-month high of 3.8 per cent in November, also boosted the rupee sentiments, forex dealers said.

The rupee had gained 16 paise to close at over one-month high of 62.16 on Monday against the American currency on persistent selling of dollars by banks and exporters on hopes of capital inflows into domestic markets.

Meanwhile, the benchmark BSE Sensex today rose 84.92 points, or 0.30 per cent, to trade at 27,670.19 in early trade. PTI SUN DP KPS