Rupee loses some early gains; still up 20 paise

The rupee erased some early gains on Monday, but was still up 20 paise at 53.25 a dollar on persistent selling of the American currency by banks and exporters amid sustained foreign capital inflows.

Weakness of dollar in the overseas market also boosted the rupee value, a forex dealer said.

In New York market, the dollar had slipped against the euro on Friday.

Back home, the rupee resumed at at 53.44 a dollar as against the last weekend's level of 53.45. It firmed further to 53.05 before quoting at 53.25, at 1100 hours.

The domestic currency has moved between 53.05 and 53.52 per dollar during the morning deals.