Rupee gains as exporters sell dollars
Dollar's strength against other currencies overseas caps gains
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The rupee recovered by 10 paise at 62.57 against the US dollar in early trade today at Interbank Foreign Exchange on fresh selling of the American currency by exporters.
The local currency had lost 26 paise to close at 62.67 yesterday due to renewed month-end demand from the dollar from importers.
Forex dealers said besides fresh selling of the American currency by exporters, a higher opening in the domestic equity market supported the rupee. But the dollar's strength against other currencies overseas capped the gains, they added.
Meanwhile, the benchmark BSE Sensex rose by 106.25 points, or 0.37%, at 28,082.11 in early trade.
The local currency had lost 26 paise to close at 62.67 yesterday due to renewed month-end demand from the dollar from importers.
Forex dealers said besides fresh selling of the American currency by exporters, a higher opening in the domestic equity market supported the rupee. But the dollar's strength against other currencies overseas capped the gains, they added.
Meanwhile, the benchmark BSE Sensex rose by 106.25 points, or 0.37%, at 28,082.11 in early trade.
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First Published: Mar 31 2015 | 9:42 AM IST