Mumbai: The rupee strengthened by 32 paise at over four-week high of 62.35 against the dollar in early trade today at the Interbank Foreign Exchange on sustained selling of the US currency by exporters and banks amid higher opening in the domestic equity market.
Forex dealers said besides increased selling of the American currency by exporters and banks and a higher opening of the domestic equity market, the dollar’s weakness against other currencies overseas, supported the rupee.
Yesterday, the rupee jumped 50 paise to close at 62.67 against the Greenback on persistent selling of dollars by banks and hopes of capital inflows in view of a strong equity market. Meanwhile, the benchmark BSE Sensex rose by 226.80 points, or 0.83%, at 27,501.51 in early trade.