Rupee recovers by 31 paise against dollar in early trade

Mumbai :The rupee recovered by 31 paise to 67.76 against the dollar in early trade today, snapping the three-day falling streak on fresh selling of the US currency by banks and exporters.

Besides, the dollar’s weakness against some currencies overseas, supported the rupee.

Forex dealers said rebound in domestic stock markets also helped the domestic unit to strengthen against the dollar.

The rupee had lost 9 paise to close at 68.07 in yesterday’s trade on sustained demand for the US currency from banks and importers amid falling crude prices and foreign capital outflows.

Meanwhile, the benchmark BSE Sensex recovered by 226.10 points, or 0.93 per cent, to trade at 24,449.42 in early deals.