Rupee up 16 paise against dollar in early trade
Mumbai: The rupee appreciated by another 16 paise to 66.51 against the dollar in early trade today on increased selling of the American currency by exporters and banks amid India's economic growth accelerating to 7.4 per cent in the July-September quarter.
Forex dealers said besides increased selling of the American currency by exporters and banks, weakness in the dollar against other currencies supported the rupee. Further, a higher opening in the domestic equity market influenced uptrend in the rupee, they added.
Yesterday, rupee had ended 9 paise higher at 66.67 against the US dollar on fag-end selling of the American currency by banks and exporters. Meanwhile, the benchmark BSE Sensex was trading 91.45 points or 0.34 per cent higher, at 26,237.12 in early trade.