The rupee on Thursday strengthened by 19 paise to Rs. 60.02 against the dollar in early trade snapping its three-session falling streak at the Interbank Foreign Exchange market on increased selling of the U.S. currency by exporters.
The local currency had lost 55 paise to close at Rs. 60.21 on Wednesday due to fresh capital outflows and sustained dollar demand from importers.
Dealers said besides increased dollar selling by exporters, a higher opening in domestic equity market and yen’s gain against the American currency overseas also helped the rupee to recover.
Meanwhile, the BSE benchmark index Sensex recovered by 170.25 points, or 0.89 per cent, to 19,348.01 in early trade on Thursday.