Rupee gains 4 paise against dollar in early trade
Mumbai: The rupee rose by four paise to 61.93 against the dollar in early trade today at the Interbank Foreign Exchange on fresh selling of the US currency by exporters amid increased foreign capital inflows.
Forex dealers said besides selling of the American currency by exporters and banks, a higher opening in domestic stock market supported the rupee but the dollar’s strength against other currencies overseas, limited the gains.
The rupee had surged 23 paise to end at nearly three-week high of 61.97 in yesterday’s trade on optimism over the upcoming Budget and sustained dollar selling by banks.
Meanwhile, the benchmark BSE Sensex rose by 61.14 points, or 0.21 per cent, to 29,069.13 in early trade.