Marking the third day of advance, the rupee started the week on a strong note by rallying 23 paise to 64.08 against the US dollar in early session on Monday, fuelled by positive economic data.
Retail inflation fell sharply to 2.99 % in April from 3.90 % in March while inflation based on the wholesale price index slipped to a four—month low of 3.85 %.
However, industrial output growth slipped to 2.7 % in March, based on the new series with the revised base year of 2011—12.
A higher opening in domestic stocks and continuous foreign capital inflows kept the rupee on a firm ground, dealers said. But the dollar’s strength against some currencies overseas halted the rupee’s march.
On Friday, the rupee had strengthened by 7 paise to end at 64.31 on sustained selling of the American currency by banks and exporters.
Meanwhile, the benchmark Sensex surged 165.90 points, or 0.55 %, to 30,354.05 in early trade.
