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Rupee recovers 7 paise against dollar in early trade

Ruppe down

Mumbai : The rupee recovered by seven paise to 67.52 against the dollar at the Interbank Foreign Exchange in early trade today on fresh selling of the US currency by banks and exporters.

Dealers said fresh selling of the American unit by exporters and banks and dollar’s weakness against some currencies overseas, also supported the rupee.

However, a weak trend at domestic stock markets in early volatile trade capped the rupee’s gains, they said.

The local currency had dipped by 30 paise to close at fresh 28-month low of 67.59 against the American currency on Friday on demand for the greenback from importers in view of persistent foreign capital outflows amid sharp fall in equities.

Meanwhile, the benchmark BSE Sensex fell by 72.97 points or 0.30 per cent to trade at 24,382.07 in early deals.

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