The rupee strengthened by 13 paise to 59.60 against the dollar in early trade at the Interbank Foreign Exchange market today on increased selling of the American currency by exporters and banks.
Besides, a higher opening in the domestic equity market also supported the rupee, but the dollar’s gains against other currencies overseas on a strong US jobs reports capped the rise, forex dealers said.
The rupee, after surging to three-week highs, had lost 4 paise to close at 59.73 against the dollar in yesterday’s trade due to weakness in local stocks and persistent demand for the American currency from importers.
Meanwhile, the benchmark BSE Sensex recovered 53.97 points or 0.21 per cent to 25,877.72 in early trade.PTI