Rupee up by 3 paise against dollar in early trade

The rupee recovered by three paise to 60.47 against the US dollar in early trade on Monday on sustained foreign capital inflows amid the country’s economic growth rate improving to two-and-half year high of 5.7 per cent in the April-June quarter.

Increased selling of dollars by banks and exporters amid soaring equity markets on the back of heavy buying by foreign investors also supported the rupee, dealers said.

The rupee had eased by five paise to close at 60.50 against the dollar in the previous session on Thursday.

Forex market remained closed on Friday on account of ’Ganesh Chaturthi’. Meanwhile, the benchmark BSE Sensex surged 174.58 points, or 0.65 per cent, to hit a new life-time high of 26,812.69 in opening trade.