Rupee recovers 11 paise against USD in early trade

Mumbai :The rupee regains 11 paise to 66.70 against the dollar in early trade today at the Interbank Foreign Exchange market on fresh selling of the US currency by exporters and banks amid a higher opening in the domestic equity market.

Forex dealers said apart from selling of the American currency by exporters and banks, weakness in the dollar against other currencies supported the rupee.

Further, a higher opening in the domestic equity market influenced the rupee uptrend, they added.

Yesterday, the rupee had lost 18 paise to 66.81 against the US currency on fresh dollar demand from banks and importers in view of foreign capital outflows amidst fall in equity market.

Meanwhile, the benchmark BSE Sensex recovered by 57.26 points, or 0.23 per cent, at 24,882.30 in early trade today.