Mumbai: The rupee strengthened by four paise to 63.47 against the dollar in early trade today at the Interbank Foreign Exchange market on fresh selling of the American currency by exporters and banks.
Besides, a higher opening in the domestic equity market supported the rupee but the dollar’s gains against other currencies overseas capped the rise, forex dealers said.
The rupee had weakened by 23 paise to end at 63.51 against the American currency on Wednesday on month-end dollar demand from oil companies and persisting selling by foreign funds in stocks.
Forex market remained closed yesterday on account of “Christmas”.
Meanwhile, the benchmark BSE Sensex recovered by 102.83 points, or 0.38 per cent, to 27,311.44 in early trade today.
PTI SUN KPS
