TA:Rupee rises by 21 paise against dollar in early trade
The Indian rupee rose by 21 paise to Rs. 52.75 per US dollar in early trade on Monday on fresh selling of the American currency by banks and exporters amid hopes of a resumption of foreign capital inflows in light of a rising trend in the equity market.
The rupee resumed higher at Rs. 52.85/86 per dollar on the Interbank Foreign Exchange, as against last weekend's close of 52.96/97 per dollar, and firmed up further to Rs. 52.75 per dollar before quoting at Rs. 52.86/87 per dollar at 1030 hours.
The domestic currency hovered in a range between Rs. 52.75 and Rs. 52.95 per dollar during morning deals.
Fresh selling of dollars by banks and exporters in view of the recovery in the equity market on the back of strong US economic data pushed up the rupee value against the dollar, a forex dealer said.
The BSE benchmark Sensex shot up by 199 points, or 1.27 per cent, in early trade on Monday.
