Weakness in dollar against other currencies overseas supported rupee here.
Frantic dollar demand from importers weakened local currency.
Mumbai: Continuing its uptrend, the rupee firmed up by another 8 paise to 64.77 against the US dollar in early trade today on increased selling of the American
currency by exporters and banks.
Besides, weakness in the dollar against other currencies overseas supported the rupee, forex dealers said. Further, a higher opening in the domestic equity market influenced the rupee uptrend, they added.
On Friday, the rupee had gained 7 paise to close at a fresh 17-month high of 64.85 on bouts of dollar selling from banks and exporters. Meanwhile, the benchmark BSE Sensex rose by 157.97 points, or 0.53 per cent, at 29,778.47, in early trade today.
( Source : PTI )
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