The rupee strengthened by 17 paise to 61.45 against the dollar in early trade today at the Interbank Foreign Exchange on increased selling of the US currency by exporters and banks amidst sustained foreign capital inflows.
Forex dealers said besides increased selling of the American currency by exporters and banks, the dollar’s weakness against other currencies overseas, supported the rupee.
A higher opening in the domestic equity market, which soared to new highs, too influenced the rupee, they added.
The rupee had dropped by 21 paise to three-and-a-half week low of 61.62 against the Greenback in the previous session on sustained dollar demand from importers.
Meanwhile, the benchmark BSE Sensex spurted by 159.33 points, or 0.57 per cent, to hit another record-high of 28,027.96 points in opening trade today.