The rupee moved up marginally by 5 paise to trade at Rs. 51.42 against the dollar at the Interbank Foreign Exchange market in early trade on Wednesday on increased foreign fund inflows.

Dealers said higher opening in equities amid increased foreign fund inflows mainly supported the rupee but the dollar’s gains against the euro and some Asian currencies overseas restricted the gains.

The domestic unit had closed 20 paise higher at Rs. 51.47/48 against the US currency on Tuesday following smart rise in local equities on policy rate cut by the central bank and dollar selling by exporters.

Meanwhile, the 30-share BSE Sensex moved up 138.41 points or 0.8 per cent to 17,496.35 in early trade on Wednesday.