Mumbai, India (BBN) – Indian rupee strengthened by 7 paisa to 66.74 against the dollar in early trade at the forex market today on fresh selling of the US currency by exporters and banks amid a firm domestic equity market.
Forex dealers said that besides selling of the American currency by exporters and banks, the dollar’s weakness against other currencies overseas propped the rupee, reports The Hindu Business Line quoting PTI.
Further, a strong domestic equity market supported the rupee sentiment, they added.
On Friday, the rupee had lost 11 paisa to 66.81 against the US dollar on fresh demand for the American greenback from banks and importers.
Meanwhile, the benchmark BSE Sensex rose 125.18 points or 0.43 per cent to 28,957.63 in early trade.