Rupee up 18 paise against dollar in early trade

 The rupee today appreciated by 18 paise to 55.18 against the US dollar in early trade on the Interbank Foreign Exchange market, following a rising trend in the equity market and selling of the American currency by exporters and banks.

Dealers said a firming trend in the equity market and dollar selling by exporters and banks mainly supported the local unit.

Yesterday, the domestic currency had gained 28 paise to close at a one-week high of 55.36 against the dollar on the back of a surge in domestic stocks and dollar selling by exporters and banks.Meanwhile, the BSE benchmark Sensex gained 165.24 points, or 1 per cent, to 16,619.54 in early trade.

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