Rupee recovers 8 paise against dollar in early trade

Snapping its three-day losing streak, the rupee edged higher by 8 paise to 66.60 against the dollar at the Interbank Foreign Exchange in early trade today, on fresh selling of the American currency by exporters and banks.

Besides, a higher opening in domestic stock markets supported the rupee but dollar’s strength against other currencies overseas capped the gains.

The rupee had dropped nine paise to close at 67.68 per dollar in yesterday’s trade on sustained demand for the US currency from banks and importers amid sharp fall in equities.

Meanwhile, the benchmark BSE Sensex recovered by 126.72 points or 0.52 per cent at 24,315.09 in early trade.