After losing for six days in a row, the Indian rupee today appreciated by 19 paise against the greenback in early trade on dollar selling at existing higher levels and as other major currencies strengthened against the USD.
At the Interbank Foreign Exchange (forex) market, the domestic unit, which ended at an all-time low of 51.93/94 yesterday, rose by 19 paise to 51.74 against the USD after resuming flat.
Dealers said dollar selling at higher levels led to hardening of the rupee, but it might touch 52 a dollar during the day as equity markets are expected to remain weak.
Besides, the Indian currency also moved in tandem with other major currencies, which were up against the greenback. The benchmark Sensex yesterday plunged by 285 points to settle at 8,607.08 .
