Mumbai, India (BBN) – The Indian rupee strengthened by 9 paisa to trade at 65.37 against the dollar in early trade on fresh selling of the US currency by exporters and banks.
According to forex dealers, dollar’s weakness against other currencies overseas and selling of the US currency by exporters and banks supported the rupee, reports The Hindu Business Line.
Further, a higher opening in the domestic equity market and strong FII inflows influenced the rupee uptrend, they added.
On Friday, the rupee had lost 5 paisa to end at 65.46 against the US currency on dollar demand from importers and suspected RBI intervention, ending its four-day dream run.
Meanwhile, the benchmark BSE Sensex rose 50.49 points or 0.17 per cent to 29,699.48 in early trade.