Rupee up against U.S. dollar in early trade

The Indian rupee gained 2 paise to Rs 49.10 per U.S. dollar in early trade on the Interbank Foreign Exchange on Friday, supported by a rise in the domestic stock market.
Dealers said the recovery in the equity market in early trade helped the rupee trade higher, but continued dollar demand from importers capped the gains.
The rupee had closed 17 paise lower at Rs 49.12/13 per US dollar in yesterday’s trade on dollar demand and weakness in equities.
Meanwhile, the BSE Sensex recovered by 44.03 points, or 0.26 per cent, to 16,927.95 in opening trading today.
In my view all this rise and fall in rupee is due to the change in concentration of exports and imports.
Submitted by:-
PGDM-1st sem