Rupee gains 5 paise against US dollar in early trade

The Indian rupee strengthened by 5 paise to Rs 45.20 per dollar at the Interbank Foreign Exchange on Wednesday, supported by a higher opening in the stock market and dollar's weakness against other Asian currencies.

The rupee had depreciated by 19 paise to close at Rs 45.25/26 against the US currency in Tuesday's trade on renewed dollar demand from banks and importers despite a weak dollar overseas.

Forex dealers said dollar's weakness against other Asian currencies and a higher opening in the stock market helped the rupee gain some strength.

Meanwhile, the Bombay Stock Exchange Sensex was up 200.42 points, or 1.10 per cent, at 18,368.06 level in opening trade on Wednesday.