Rupee up 11 paise against dollar in early trade
Mumbai : The rupee appreciated by 11 paise to 66.83 against the dollar in early trade today at the Interbank Foreign Exchange on fresh selling of the American currency by exporters.
Besides, the retail inflation in September dropping to 13-month low of 4.31 per cent and a higher opening of the domestic equity market also supported the rupee, but dollar’s strength against some currencies overseas capped the gains, forex dealers said.
The rupee had lost 41 paise, its biggest one-day fall in over three months, to close at fresh three-week low of 66.94 against the dollar yesterday on renewed concerns over potential interest rate hike by the US Federal Reserve.
Meanwhile, the benchmark BSE Sensex recovered by 69.68 points, or 0.25 per cent, to 27,712.79 points in early trade today.