Mumbai, India (BBN) – The rupee firmed up 7 paisa to 68.13 against the dollar in early trade on Monday, rising for a fifth straight day on increased selling of the US currency by exporters and banks.
A higher opening in the domestic equity market boosted the rupee sentiment, but the fall in euro to a 20-month low against the American currency after Italy Prime Minister Matteo Renzi resigned following a heavy referendum defeat, capped the gains, reports the Hindu Business Line.
On Friday, the rupee had gained 14 paisa to close at 68.20 — the highest level in more than a week — on growing expectations that the Reserve Bank will lower key rates in its policy review scheduled for December 7.
Meanwhile, the benchmark BSE Sensex rose 42.63 points, or 0.16 per cent, to 26,273.29 in early trade.