Hindu Business Line file photo
Mumbai, India (BBN) - The Indian rupee strengthened by 30 paisa to 64.37 against the US dollar in early trade on fresh selling of the American currency by banks and exporters.
Besides, dollar's weakness against other currencies overseas supported the rupee, forex dealers said, reports The Hindu Business Line quoting PTI.
They said a weak domestic equity market and weak macroeconomic data with retail inflation jumping to a 5-month high of 3.81 per cent in March and industrial output contracting by 1.2 per cent in February capped the rupee’s gain.
Yesterday, the rupee had ended lower by 17 paisa to 64.67 against the US dollar with forex market sentiment taking a hit over growing geopolitical tensions at the global level.
Meanwhile, the benchmark BSE Sensex dropped by 73.15 points or 0.28 per cent to 29,570.33 in early trade.
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