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Rupee Gains 9 Paise Against US Dollar in Early Trade
File photo of a customer counting money before paying a vegetable vendor at a market in Mumbai. (Reuters)
Mumbai: The rupee strengthened by 9 paise to trade at 65.37 against the dollar in opening trade on Monday on fresh selling of the US currency by exporters and banks.
A weak dollar in overseas markets and selling of the US currency by exporters and banks supported the rupee in opening trade, forex dealers said.
Further, a higher opening in the domestic equity market and strong FII inflows influenced the rupee uptrend, they added.
On Friday, the rupee had lost 5 paise to end at 65.46 against the US currency on dollar demand from importers and suspected RBI intervention, ending its four-day dream run.
Meanwhile, the benchmark BSE Sensex rose by 50.49 points, or 0.17 per cent, at 29,699.48 in opening trade.
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