Rupee gains 8 paise against dollar on foreign capital inflows
Mumbai: Snapping its five-day falling spree, the rupee rose 8 paise to 63.76 against the US dollar in early trade today on fresh selling of the American currency by exporters and banks amid a higher opening in the domestic equity market.
Selling of the American currency by exporters and banks supported the rupee, but the dollar’s firmness against euro and other currencies overseas capped the gains, dealers said.
Besides, a higher opening in domestic equity market helped the rupee, they added.
The rupee depreciated 20 paise to close at 63.84 in yesterday’s trade due to the looming debt default crisis in Greece amid month-end demand for the greenback from importers.
Meanwhile, the benchmark BSE Sensex rose 117.80 points, or 0.42 per cent, to trade at 27,762.95 in early trade.