Rupee up 28 paise to Rs 55.21/dollar

Dollar's weakness against euro & its selling by exporters supported rupee

Rising for the fourth day in a row, the rupee added 28 paise to Rs 55.21 against the dollar in early trade today on the Interbank Foreign Exchange as the American unit weakened against euro and other currencies overseas.

Forex dealers said dollar's weakness against euro, which climbed to a seven-week high after the US Federal Reserve indicated it was leaning towards new economic stimulus measures, and dollar selling by exporters supported the rupee.

The rupee had gained 8 paise to close at 55.49 against the dollar yesterday on continued selling of the American currency by exporters and robust capital inflows.

 

Meanwhile, the BSE benchmark Sensex recovered by 84.75 points, or 0.47%, to 17,931.61.