Rupee up 10 paise against dollar in early trade

Rupee up 10 paise against dollar in early trade

The rupee strengthened by 10 paise to trade at 60.27 against the US dollar at the Interbank Foreign Exchange market today on selling of the American currency by exporters.

The local currency had lost 14 paise to close at three-week low of 60.37 per dollar yesterday amid capital outflows and continuing demand for the US currency from oil refiners.

Dealers said besides increased dollar selling by exporters, a higher opening in domestic equity market and euro’s gain against the American currency overseas helped the rupee to recover.

Meanwhile, the benchmark BSE Sensex recovered by 77.57 points, or 0.35 per cent, to 22,354.80 in early trade.

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