Mumbai, India (BBN)-The rupee strengthened 8 paise to 63.74 against the US dollar in the early trade on Monday at the Interbank Foreign Exchange on selling of the American currency by exporters as the economy grew at 7.5% in the March quarter.
That apart, forex dealers said, a higher opening in the domestic equity market and fresh capital inflows supported the rupee. But dollar’s strength against other currencies overseas limited the gains, reports the Press Trust of India.
The rupee had ended marginally lower by 2 paise at 63.82 in Friday’s trade.
Meanwhile, the benchmark BSE Sensex rose 51.71 points, or 0.18%, to 27,880.15 in early trade.