Mumbai: The rupee strengthened by five paise to 61.67 against the US dollar in early trade today at the Interbank Foreign Exchange on selling of the US currency by exporters and banks amid sustained capital inflows.
The rupee depreciated by 17 paise to end at nearly one-month low of 61.72 against the greenback on Friday on sustained dollar demand even as domestic equities surged to new highs.
Traders said besides selling of the American currency by exporters and banks, continued foreign fund inflows helped the local currency to strengthen, but the dollar's gains against rivals overseas and a lower opening in the domestic equity market capped the rupee's rise. Meanwhile, the benchmark BSE Sensex fell 44.51 points, or 0.16 per cent, to 28,002.15 in early trade.
