Rupee up 13 paise against dollar in early trade

Continuing its rising streak for the third straight day, the rupee on Friday appreciated by 13 paise to 61.62 against the dollar in early trade at the Interbank Foreign Exchange market on sustained selling of the US currency by exporters and banks.

The rupee had gained 30 paise to close at one-month high of 61.75 in the previous session.

Over-subscription of the of Power Grid Corporation follow-on-public offer (FPO), which subscribed 4.77 times also supported the rupee, forex dealers said.

However, dollar’s gain against other currencies overseas ahead of US jobs data and a lower opening in the domestic equity market capped the gains, they said.

The benchmark BSE Sensex fell 26.11 points, or 0.12 per cent, to 20,931.70 in early trade.