Rupee up 6 paise against USD in early trade

Mumbai, Jul 1: The rupee on Tuesday recovered by 6 paise to trade at 60.11 against the US dollar in early trade on Interbank Foreign Exchange market amidst sustained foreign capital inflows.

Increased selling of the dollar by banks and exporters amidst sustained inflows of foreign funds supported the rupee, dealers said. Besides, a higher opening in the domestic equity market also helped the rupee but dollar’s gain against other currencies overseas capped the rise, they added.

The rupee fell by nine paise to end at 60.17 against the dollar in yesterday’s trade following month-end demand from importers for the American currency. Meanwhile, the benchmark BSE Sensex rose 103.87 points, or 0.41 per cent, to trade at 25,517.65 in early trade