Rupee gains 7 paise against dollar
The rupee strengthened by seven paise to 62.15 against the U.S. dollar in early trade on Monday at the Interbank Foreign Exchange on increased selling of the American currency by exporters and banks.
Forex dealers said besides selling of the U.S. currency by exporters and banks, a higher opening in domestic stock market and the dollar’s weakness against other currencies overseas, supported the rupee. The rupee had closed with a gain of 12 paise against the US dollar at 62.22 in the previous session on Friday.
Meanwhile, the benchmark BSE Sensex rose by 113.19 points, or 0.38 per cent, at 29,344.60 in early trade.