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Rupee moves up 11 paise against dollar

Mumbai :The rupee continued to rule higher against the American currency for the eighth straight session as it rose 11 paise to 66.10 in early trade at the Inter-bank Foreign Exchange today on increased selling of the US currency by exporters and banks.

Forex dealers said that besides sustained selling of the American unit by exporters, the dollar’s weakness against some currencies overseas and a higher opening of the domestic equity market supported the rupee.

The local currency had appreciated by 12 paise to settle at 66.21 against the greenback on Wednesday.

Forex market remained closed on Thursday and Friday on account of Id-e-Milad and Christmas, respectively.
The currency had gained by 88 paise in the past seven days.

Meanwhile, the benchmark BSE Sensex recovered by 100 points, or 0.39 per cent, to trade at 25,938.71 in early trade.

pti