Mumbai: The rupee strengthened by 12 paise to 66.67 against the US dollar in early trade today on increased selling of American currency by exporters and banks amid a higher opening in the domestic stock market.
According to dealers, infrastructure sector recording a growth rate of 5 per cent in September, the highest in three months, made the rupee stronger.
Besides, a positive opening of the domestic equity market also supported the the local currency, they said.
The rupee had gained 8 paise to close at 66.79 against the US dollar at the Interbank Foreign Exchange market on Friday.
Forex market remained closed yesterday on account of “Diwali Balipratipada’.
Meanwhile, the benchmark BSE Sensex recovered 41.11 points or 0.14 per cent at 27,971.32 in early trade today.
PTI
