Indian rupee strengthens by 4 paisa on dollar selling

The Hindu Business Line file photo

Mumbai, India (BBN) – Indian rupee strengthened by 4 paisa to 64.32 against the US dollar in early trade at the Interbank Foreign Exchange market today on sustained selling of the American currency by banks and exporters.
Forex dealers said that besides continued selling of the greenback by banks and exporters, a higher opening of the domestic equity market backed the rupee, reports PTI.
Yesterday, the rupee had firmed up by 8 paisa to close at a near three-week high of 64.36 a dollar on steady selling of the American currency by state-owned banks and exporters.
Meanwhile, the benchmark BSE Sensex rose 120.83 points or 0.38 per cent to 31,430.32.
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