Rupee recovers 24 paise against dollar in early trade

Increased selling of the US currency by exporters and banks amid higher opening in the domestic equity market helped the rupee

The rupee recovered by 24 paise to 66.06 against the dollar in early trade today at the Interbank Foreign Exchange on increased selling of the US currency by exporters and banks amid higher opening in the domestic equity market.

Forex dealers said besides selling of the American unit by exporters and banks, weakness in the dollar against other currencies supported the rupee.

Further, a higher opening in the domestic equity market influenced the rupee uptrend, they added.

Yesterday, the rupee had lost 27 paise to close at 66.30 on sustained dollar demand from banks and importers in view of persistent foreign capital outflows.

Meanwhile, the benchmark BSE Sensex rose by 184.23 points or 0.72% at 25,666.75 in early trade.