Mumbai, India (BBN) – The Indian rupee strengthened by 28 paisa to 65.13 against the dollar in early trade on increased selling of the US currency by banks and exporters.
Dealers said increased selling of the American unit by exporters and banks and the dollar’s weakness against other currencies overseas amid increased skepticism of US President Donald Trump’s ability to implement his economic agenda after last week’s failed US healthcare deal supported the rupee, reports The Hindu Business Line quoting PTI.
However, weak domestic equity market capped the gain.
On Friday, the rupee had gained 11 paise to end at 65.41 against the American currency on fresh bouts of dollar selling by exporters and banks.
Meanwhile, the benchmark BSE Sensex fell 96.80 points or 0.32 per cent to 29,324.60 in early trade.