Forex dealers aid that weakness in the dollar against other currencies overseas supported rupee.
The Reserve Bank of India on Wednesday fixed the reference rate of the rupee at 67.6288 against the US dollar and 78.1992 for the euro.
Mumbai: The rupee gained 12 paise to 68.08 against the dollar in early trade today at the Interbank Foreign Exchange (Forex) market on increased 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 greenback by exporters and banks, weakness in the dollar against other currencies overseas supported the rupee.
Further, a higher opening in the domestic equity market influenced the rupee uptrend, they added. Yesterday, the rupee had ended marginally lower by two paise at 68.20 despite the outlook for the dollar remaining lacklustre.
Meanwhile, the benchmark BSE Sensex rose 100.36 points, or 0.37 per cent, at 27,217.70 in early trade today.
( Source : PTI )
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