Rupee gains 21 paise against dollar in early trade
The rupee showed some strength to quote 21 paise higher at 67.11 against the dollar in early trade today on fresh selling of the US currency by exporters and banks amidst higher opening in the domestic equity market. Forex dealers said besides selling of the American currency by exporters and banks, weakness in the dollar against other currencies overseas after tepid inflation data supported the rupee.
A higher opening in the domestic equity market also influenced the rupee uptrend, they added.
Yesterday, the rupee had lost 5 paise to end at a fresh 15-month low of 67.32 against the American currency on steady dollar demand from banks and importers.