Rupee gains 11 paise against dollar in early trade
The rupee strengthened by 11 paise to 62.67 against the dollar in early trade on Thursday at the Interbank Foreign Exchange on fresh selling of the U.S. currency by exporters and banks. 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 eased by two paise to close at fresh two-month low of 62.78 against the Greenback in Wednesday’s trade on sustained demand for the U.S. dollar from importers. Meanwhile, the benchmark BSE Sensex recovered by 220.85 points, or 0.77 per cent, to trade at 28,880.02 in early trade on Thursday.