Mumbai, May 4: The rupee edged one paisa higher to 62.63 against the US dollar in early trade today after the greenback weakened overseas ahead of monthly US jobs report and China-US trade meet outcome. Forex dealers said besides selling of the American currency by exporters and banks, weakness in the dollar against other currencies as senior Chinese and US officials met in Beijing today for the second day of trade talks, supported the domestic unit.

Investors are also keeping an eye on the US employment report for April for further indications of the strength of the US labour market and inflation pressures, they added. Yesterday, the rupee had ended marginally 2 paise higher at 66.64 against the US dollar despite a caution among investors ahead of trade talks between China and the US. Meanwhile, the benchmark BSE Sensex rose by 103.41 points, or 0.29 percent, to 35,206.55 in opening trade today.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)