Rupee firms up 37 paise against dollar in early trade | business | Hindustan Times
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Rupee firms up 37 paise against dollar in early trade

Weakness in dollar against other currencies overseas after last week’s disappointing US jobs data reduced the chances of an interest rate hike and a higher opening in the domestic equity market supported the rupee.

business Updated: Jun 06, 2016 11:06 IST
PTI
A money lender counts currency notes at his shop in Ahmedabad.
A money lender counts currency notes at his shop in Ahmedabad.(REUTERS)

Rupee strengthened by 37 paise to 66.88 against dollar in early trade on Monday at the Interbank Foreign Exchange market on increased selling of the American currency by exporters amid foreign fund inflows.

Weakness in dollar against other currencies overseas after last week’s disappointing US jobs data reduced the chances of an interest rate hike and a higher opening in the domestic equity market supported the rupee, forex traders said.

On Friday, the rupee had gained 4 paise to close at 67.25 against dollar in highly volatile trade.

The benchmark BSE Sensex was quoting 58.39 points, or 0.21%, at 26,901.42 in early trade.