Rupee extend gains, up 6 paise against dollar in early trade

Sustained selling of the American currency by banks and exporters helped the rupee

The rupee advanced by 6 paise to trade at a fresh four-week high of 66.59 against the US dollar in early trade today on sustained selling of the American currency by banks and exporters.

Moreover, weakness in dollar against other currencies overseas on expectations that the US Federal Reserve will keep benchmark interest rates low for longer also supported the rupee at the Interbank Foreign Exchange market, dealers said.

They said, however, a lower opening in the domestic equity market, capped the rupee's gain.

Yesterday, the rupee firmed up by 12 paise to close at a four-week high of 66.65 on sustained selling of the American currency by banks and exporters amid persistent foreign capital inflows.

Meanwhile, the benchmark BSE Sensex fell by 90.74 points or 0.33% at 26,929.92 in early trade today.