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The rupee today rose by 14 paise to 53.80 against the dollar in early trade at the Interbank Foreign Exchange on fresh selling of the US currency by exporters, amid sustained foreign capital inflows.
Strengthening of euro against the dollar overseas and a higher opening in the domestic equity market also supported the local currency, forex dealers said.
The rupee had lost 13 paise to close at 53.94 against the dollar in last session on Friday.
Meanwhile, the BSE benchmark index Sensex rose by 39.42 points, or 0.20%, to 19,615.06 in early trade today.
