Rupee rises 6 paise against dollar in early trade
The rupee strengthened by six paise to a fresh one-month high of 63.49 against the dollar in early trade today, extending its rising streak for the fourth straight day on persistent selling of American currency.
Forex dealers said gains made by other currencies against the US dollar overseas and a higher opening in the domestic equity markets also supported the rupee.
The rupee had gained 18 paise to close at one-month high of 63.55 against the dollar in the previous session on Friday on sustained selling of dollars by banks and exporters amid firm stock markets.
The local currency had gained 71 paise or over 1 per cent in the previous three days. Meanwhile, the benchmark BSE Sensex was trading by 168.39 points or 0.62 per cent to 27,484.56 in early early trade.