Rupee up 12 paise

Extending its rising streak for the third straight day, the rupee on Tuesday strengthened by 12 paise to 61.83 against the dollar in early trade at the Interbank Foreign Exchange market on increased selling of the US currency by exporters.

The rupee had gained 9 paise to close at one-week high of 61.95 against the dollar on Monday.

Besides a higher opening in the domestic equity market also helped the local currency, but dollar’s gain against other currencies overseas on the back of upbeat consumer data capped the rupee’s rise, forex dealers said.