Rupee up 7 paise against dollar in early trade

Mumbai, Jun 30: The rupee strengthened by seven paise to 60.01 against the American currency in early trade today at the Interbank Foreign Exchange market on selling of dollars by exporters and banks.

A higher opening in the domestic equity market and a weak dollar against other currencies overseas on a string of disappointing US data last week also supported the gain in the rupee, forex dealers said.

The rupee had closed six paise higher at 60.08 against the dollar in Friday’s trade on fresh selling of the US currency by exporters amid moderate gains in stock markets.

Meanwhile, the benchmark BSE Sensex rose 141.73 points, or 0.56 per cent, to 25,241.65 in early trade today.