Rupee gains 29 paise against dollar

Rupee gains 29 paise against dollar
Extending gains for the third straight session

Extending gains for the third straight session, the rupee advanced by 29 paise to trade at almost two-month high of 61.58 against the dollar in early trade on Monday at the Interbank Foreign Exchange on continued selling of the US currency by exporters and banks.

Forex dealers said besides increased selling of the American currency by exporters and banks, a higher opening in the domestic equity market supported the rupee but dollar’s strength against other currencies capped the gains.

The Indian rupee had appreciated by 19 paise to log its over one-month closing high of 61.87 against the greenback in the previous session. Meanwhile, the benchmark BSE Sensex rose by 145.92 points, or 0.52 per cent, to 28,267.81 in early trade.

Extending gains for the third straight session