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Rupee up against dollar in early trade

After resuming moderately higher against the dollar, the rupee comes under pressure in morning trade.

india Updated: Sep 08, 2006 11:03 IST

The rupee on Friday resumed moderately higher against the US currency but later came under pressure in morning trade on some dollar buying by banks amid firm dollar overseas.

In quiet trade at the Interbank foreign exchange (forex) market, the Indian unit resumed higher at Rs 46.14/16 per dollar from Thursday's close of Rs 46.19/20 per dollar but later eased to Rs 46.17/18 a dollar in morning deals.

"Dollar buying and selling was almost matched in the face of reduced dollar supplies in the forex market, dealers said, adding: "buoyant equity market, however, helped rupee to gain moderately".

The Bombay Stock Exchange (BSE) benchmark, Sensex, was remarkably up during morning trade.

Firm dollar overseas and some dollar buying from banks weighed down the rupee in early trade, they added.