Rupee rebounds 17 paise against US dollar

TIL Desk/Business/New Delhi/ Reversing its three-day downward trend, the rupee recovered by 17 paise to 63.96 against the US dollar in early trade on Monday on fresh selling of the American currency by exporters.

Besides, the dollar’s weakness against some currencies overseas and early gains in the domestic equity market supported the rupee.

The rupee had lost 5 paise to close 64.13 against the US currency in Friday’s trade due to sustained demand for the American currency from importers and corporates.

Meanwhile, the benchmark BSE Sensex was quoting higher by 190.65 points or 0.61 per cent at 31,404.24 in opening trade today.