Rupee gains 10 paise/$ in early trade

The Indian rupee rose by 10 paise to 44.94 per US dollar at the Interbank Foreign Exchange today, supported by a rally in the domestic stock market and dollar weakness against the euro overseas.

Forex dealers said a higher opening in the stock market and dollar losses against the euro and other currencies kept the rupee sentiment firm.

The rupee had lost 9 paise to close at Rs 45.04/05 per dollar in the previous session on fresh dollar demand from importers.

Meanwhile, the Bombay Stock Exchange index Sensex was up by 247.21 points, or 1.33%, to 18,736.97 in early trade today.