Rupee Strengthens to 68.04 on Fresh Dollar Selling
Mumbai, Jan 10: The rupee strengthened by 17 paise to 68.04 against the dollar in early trade at the Interbank Foreign Exchange market today on fresh selling of the US currency by exporters and banks.
According to forex dealers, dollar’s weakness against some other currencies overseas supported the rupee.
Moreover, a firm domestic equity market influenced the rupee uptrend, they added.
Yesterday, the rupee had tumbled by over 25 paise to close at 68.21 against the US dollar on renewed worries over fall in the country’s economic growth coupled with concerns regarding quarterly earnings due from this week.
Meanwhile, the benchmark BSE Sensex recovered by 139.09 points or 0.52 per cent to 26,865.64 in early trade.