Rupee up 3 paise against dollar in early trade

The rupee strengthened by three paise to 59.90 against the dollar. File Photo

The rupee strengthened by three paise to 59.90 against the dollar in early trade on Monday at the Interbank Foreign Exchange (Forex) market on increased selling of the American currency by exporters and banks.

Besides, a higher opening in the domestic equity market also supported the rupee but the dollar’s gains against other currencies overseas capped the rise, Forex dealers said.

The rupee bounced back by 26 paise to end at 59.93 against the American currency on Friday as exporters and some banks sold dollars.

Meanwhile, the benchmark BSE Sensex recovered by 71.41 points, or 0.28 per cent, to 25,095.76 in opening trade on Monday.