Rupee gains 5 paise to 88.63 against US dollar in early trade
Mumbai, Nov 21 (PTI) The rupee pared initial losses and showed a slight recovery of 5 paise trading at 88.63 against the US dollar in early trade on Friday on the back of lower crude oil prices overseas and foreign capital infusion in domestic stocks. The local currency, however, remained under pressure tracking a firm greenback and negative cues from domestic equity markets, forex traders said. At the interbank foreign exchange market, the rupee opened at 88.67 and gained some ground to trade at 88.63 against the US dollar in initial deals, up 5 paise from its previous closing level.