Rupee rises 10 paise against US dollar in early trade

Mumbai: The rupee firmed 10 paise to 71.87 against the US dollar on Friday on increased selling of the US currency by exporters and banks.

Besides, weakness in the greenback against some currencies overseas, increased foreign fund inflows and a higher opening of domestic equities supported the rupee, traders said.

Foreign funds bought shares worth a net of Rs 2,043.06 crore on Thursday, as per provisional data.

At the interbank forex market, the rupee opened higher at 71.94, and advanced 10 paise to 71.87 against the US dollar.

The rupee had vaulted 34 paise to close at a two-month high of 71.97 against the US dollar on Thursday on robust foreign fund inflows amid low crude oil prices.

Meanwhile, the benchmark BSE Sensex rose 96.29 points, or 0.28 per cent, to 35,356.83 in early session on Friday.