Rupee up 4 paise to 4-month high in early trade

Mumbai: Continuing with its strong rally, the rupee edged up another 4 paise to a four-month high of 66.63 against the US dollar in early trade today on increased selling of the American currency by banks and exporters.

Forex dealers said that besides the dollar’s weakness against other currencies overseas, continued foreign fund inflows and a higher opening in domestic equity market also supported the rupee’s momentum.

The rupee had closed at 66.63 on November 10 last year.

The local currency had ended 4 paise higher at 66.67 in yesterday’s trade, rising for the second consecutive day.

Meanwhile, the benchmark BSE Sensex rose by 22.76 points, or 0.07 per cent, to 29,022.32 in early session today.

PTI