Rupee gives up early gains against dollar
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The rupee gave up early gains against the dollar on Monday but was still up 14 paise at 55.01 a dollar as banks and exporters sold the American currency amid inflows from foreign funds into the equity market.
The rupee resumed stronger at 54.90 a dollar, against the last weekend's close of 55.15, at the Interbank Foreign Exchange (Forex) market. It moved between 55.04 and 54.76 before quoting at 55.01 a dollar at 10.50 am.
Dealers said recent capital inflows from foreign funds into the equity markets boosted the rupee value against the dollar.
The BSE 30-stock index, Sensex, was quoted slightly higher by six points of 0.03 per cent at 5 am, although it erased most of it early gains.
In New York market, the euro was quoted lower against the dollar.
