Rupee gains 2 paise against dollar in early trade

TIL Desk/Business/Mumbai-The rupee advanced by two paise to 67.13 against the US dollar in early trade at the Interbank Foreign Exchange today on increased selling of the American currency by exporters and banks.

Forex dealers said the dollar’s weakness against other currencies overseas after the US Federal Reserve left interest rates unchanged, supported the rupee. However, a weak opening of the domestic equity market, restricted the gains.

Yesterday, the rupee snapped its 4-day losing streak against the American currency and recovered 12 paise to end at 67.15 in line with the equity market and on hopes of foreign capital inflows. Meanwhile, the benchmark BSE Sensex fell by 182.71 points, or 0.68 per cent, to 26,543.63 in early trade.