Rupee firms up 12 paise against dollar in ealry trade

The rupee firmed up by 12 paise to 66.87 against dollar at the forex market on Thursday after the Rajya Sabha passed a bill to facilitate rollout of the historic goods and services tax.

The rupee firmed up by 12 paise to 66.87 against dollar at the forex market on Thursday after the Rajya Sabha passed a bill to facilitate rollout of the historic goods and services tax.

An employee counts currency notes at a bank in Mumbai. (AFP File Photo)

Forex dealers said besides weakness in the dollar against some other currencies overseas and fresh selling of the US currency by exporters and banks with a higher opening in the equity market backing it up, provided added momentum to the rupee.

The rupee dropped by 26 paise to end at 66.99 on Wednesday on renewed dollar demand from banks and importers amid sharp falls in equity market.

Meanwhile, the benchmark BSE Sensex rallied 224.40, or 0.81% to 27,921.91 in early trade.