Mumbai: The rupee advanced 12 paise to 64.26 against the US dollar in early trade at the Interbank Foreign Exchange today on increased selling of the greenback by banks and exporters besides a sustained foreign fund inflow.
Forex dealers said that apart from heavy selling by exporters and banks, weakness in the dollar against other currencies overseas supported the rupee. Further, a higher opening in the domestic equity market added to the rupee upmove, they added.
Yesterday, scripting its biggest single-day gain in four weeks, the rupee had rallied by 25 paise to close at 64.38 a dollar on heavy selling of the US currency. The forex market also took inspiration from domestic equities' record-setting spree. Meanwhile, the benchmark BSE Sensex rose 48.76 points, or 0.16 per cent, to 30,299.74 in early trade.
