The rupee strengthened by 9 paise to 63.08 against the dollar in early trade on Thursday at the Interbank Foreign Exchange on increased selling of the US currency amid a higher opening in domestic equity market.
Forex dealers said besides continued selling of the American currency by exporters and banks, a higher opening in the domestic equity markets supported the rupee but the dollar’s strength against other currencies overseas, limited the gains.
The rupee had bounced back by 40 paise in its sharpest single-day gain in three weeks to end at 63.17 against the Greenback in Wednesday’s trade.
Meanwhile, the benchmark BSE Sensex recovered sharply by 336.88 points, or 1.25 per cent, to 27,245.70 in early trade.
