Rupee gains 9 paise against dollar in early trade

The rupee strengthened by nine paise at 62.15 against the US dollar in early trade on Thursday at the Interbank Foreign Exchange after rating agency Moody's upgraded India's outlook from stable to positive.

The rupee strengthened by nine paise at 62.15 against the US dollar in early trade on Thursday at the Interbank Foreign Exchange after rating agency Moody's upgraded India's outlook from stable to positive.

Besides, selling of the American currency by exporters and banks and a higher opening in domestic stock market supported the rupee but the dollar's strength against other currencies overseas limited the gains, forex dealers said.

The rupee had ended marginally higher by two paise at 62.24 against the American currency in Wednesday's trade due to weakness of the Greenback in international markets.

Meanwhile, the benchmark BSE Sensex rose by 167.33 points, or 0.58%, at 28,875.08 in early trade.