The rupee rose by 19 paise at 65.77 against the US dollar in early trade on Wednesday at the Interbank Foreign Exchange after the Reserve Bank cut interest rates by 0.50% on Tuesday.
Forex dealers said besides a higher opening in domestic equity market, the dollar’s weakness against other currencies overseas, supported the rupee.
The domestic currency had gained nine paise to close at 65.96 against the US currency during Tuesday’s trade. largely on persistent selling of dollars by banks and exporters amid sustained capital inflows.
Meanwhile, the benchmark BSE Sensex jumped 265.94 points, or 1.03%, at 26,044.60 in early trade on Wednesday.