Mumbai: The rupee strengthened by 7 paise to 66.74 against the dollar in opening trade today at the forex market on fresh selling of the US currency by exporters and banks amidst higher opening in the domestic equity market.
Forex dealers said that besides selling of the American currency by exporters and banks, weakness in the dollar against other currencies overseas propped the rupee.
Further, a higher opening in the domestic equity market influenced the rupee uptrend, they added.
On Friday, the rupee had lost 11 paise to 66.81 against the US dollar on fresh demand for the American greenback from banks and importers.
Meanwhile, the benchmark BSE Sensex rose by 125.18 points, or 0.43 per cent, at 28,957.63 in early trade today.
‘Baahubali 2’ tops Google’s 2017 top trending search query
Lawrence to collaborate with ‘Call Me by Your Name’ director
Violence is not the way: Aamir on ‘Padmavati’
Priyanka Chopra receives Mother Teresa Memorial award
When Amitabh Bachchan danced on ‘Jumma Chumma’ with Sridevi
© 2017 State Times Daily Newspaper