Mumbai, India (BBN) – The Indian Rupee firmed up 7.0 paise to 66.98 against the US currency in early trade on Friday on increased selling of the US dollar by exporters and banks amid a higher opening in the domestic equity market.
Weakness in the dollar against other currencies overseas supported the rupee, the forex dealers said, reports PTI.
Further, a higher opening in the domestic equity market gave the uptrend some momentum, they added.
On Thursday, the domestic unit ended higher by 6.0 paise at 67.05 against the greenback on bouts of dollar selling by banks and exporters.
The greenback weakness against other emerging currencies also helped the Indian currency gain. Investors are eyeing the US Federal Reserve chair Janet Yellne’s speech at the central bank heads conference where she is expected to give cues on further rate hike.
Meanwhile, the benchmark BSE Sensex rose 84.81 points, or 0.30 per cent, to 27,920.72, in early session on Friday.