Photo: The Hindu Business Line
Mumbai, India (BBN)- The Indian rupee recovered 13 paisa to 64.25 against the US dollar in early trade at the inter-bank Foreign Exchange market on Monday on fresh selling of the greenback by exporters and banks.
Besides, a firm domestic equity market and fresh bout of foreign fund inflows kept the domestic unit in high spirits, according to forex dealers.
However, the dollar’s recovery against some currencies overseas on a strong US jobs report restricted the rupee’s upmove, they added.
On Friday, the rupee plunged 20 paisa to end at a fresh two-week low of 64.38 against the US dollar as a massive fall in local equities amid heightened global volatility took a toll on the currency market.
Meanwhile, the benchmark BSE Sensex bounced 78.22 points or 0.26 per cent to 29,937.02 in early trade.
BBN/SSR/AD