Rupee zooms 50 paise against dollar

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The rupee rose by hefty 50 paise to 53.80 against the US currency in early trade on Monday on dollar selling by exporters and some banks.

Forex dealers said besides selling of dollar by exporters and banks, a strong opening in the domestic equity market supported the local unit.

Meanwhile, the BSE benchmark index Sensex rose by 218.37 points, or 1.18 per cent, to 18.682.64.

The rupee had gained 113 paise to close at 54.30 in the previous session.