Mumbai: The rupee strengthened 17 paise to 63.87 against the US dollar in early trade at the Interbank Foreign Exchange on Monday.
Selling of the US currency by exporters and banks amid a higher opening in domestic equities helped the rupee gain against dollar, dealers said.
The dollar’s weakness against some currencies overseas gave the local unit some lift. The rupee had gained 8 paise to close at two-week high of 64.04 against the US currency on Thursday helped by dollar selling and firm stock markets.
Forex market was closed on Friday for ‘Ganesh Chaturthi’. The benchmark Sensex was trading higher by 179 points, or 0.56 per cent, at 31,775.06 in early trade on Monday.