Indian rupee rises by 9 paise to 62.59 against USD

Rupee5

The Indian rupee strengthened by 9 paise to 62.59 against the US dollar in early trade on Monday at the Interbank Foreign Exchange market on increased selling of the American currency by exporters.

Forex dealers said increased selling of the dollar by exporters supported the rupee but a lower opening in the domestic equity market and weakness in other currencies against the American currency overseas capped the gains.

Indian rupee had lost 12 paise to close at 62.68 on Friday weighed down by demand for the American currency from importers.

Meanwhile, the benchmark Bombay Stock Exchange (BSE) Sensex fell by 90.36 points, or 0.44 per cent, to 20,423.49 in early trade on Monday. PTI