Rupee gains back 8 paise against dollar
Breaking its 3-day falling spree, the rupee recovered 8 paise to 63.93 against the US dollar in early trade today at the Interbank Foreign Exchange on fresh selling of the American currency by exporters.
Besides, forex dealers said, a higher opening in the domestic equity market propped up the rupee. They said, however, month-end demand for the greenback from importers and the dollar's strength against other currencies overseas restricted the gains.
The rupee had lost three paise against the dollar yesterday to end at 2-week low of 64.01 on dollar demand from importers coupled with a stronger greenback overseas. The benchmark BSE Sensex rose 95.06 points, or 0.34 per cent, to 27,659.72 in early trade today.