Rupee gains 8 paise against dollar on foreign capital inflows

Snapping its four-day falling streak, the rupee rose by eight paise to 61.37 against the US dollar in early trade today on sustained foreign capital inflows amidst a higher opening in the domestic equity market.
Increased selling of the American currency by banks and exporters amid sustained foreign capital inflows following a slew of reforms announced by the government supported the rupee but the dollar's firmness against other currencies overseas capped the gains, dealers said.
Besides, a strong rally in domestic equity market in opening trade helped the rupee, they added.
The rupee depreciated by 10 paise to close at two-week low of 61.45 against the Greenback in yesterday's trade after the US Federal Reserve kept in place its plans to maintain record low interest rate for some more time.

Meanwhile, the benchmark BSE Sensex rose 147.26 points, or 0.53 per cent, to hit new lifetime high of 27,493.59 in opening trade.