Rupee gains against dollar in early trade
The Rupee continued its rally against the US currency and on Monday appreciated by another eight to 10 paise in early trade.india Updated: Jun 05, 2006 11:23 IST
The Rupee continued its rally against the US currency and on Monday appreciated by another eight to 10 paise in early trade, strengthened by weak overseas dollar as well as increased FII inflows into the bourses.
In somewhat volatile trade at the interbank foreign exchange (forex) market, the Indian unit opened firm at Rs 45.83/84 per dollar over previous close of Rs 45.8950/9050 a dollar.
It later rallied further to Rs 45.7950/8050 a dollar before being quoted at Rs 45.8175/8275 a dollar during late morning dealings.
The rupee is benefited by weak dollar in overseas markets, a leading forex dealer said adding "there was no exporter dollar sales in the market during morning trading".
The dollar took a beating in overseas markets in the wake of disappointing US employment data.