Rupee edges higher against dollar in early trade

The Indian rupee opened marginally higher against the US dollar, in line with gains in euro. Local shares will also show positive bias, dealers said.

The rupee is currently trading at 55.7150/73 level to dollar as against Thursday’s close of 55.75/76.

Dealers also said that the pair's losses may be kept in check by a surge in global crude prices.

Meanwhile, USD/INR 1-month NDF is trading at 56.04 after closing NY trading at 55.84-88.

The euro on Friday held onto most of its gains from the previous session, bolstered by expectations for impending action to stem Europe's more than two-year old debt crisis.

Copyright @ Thomson Reuters 2012