Mumbai: The rupee gained 10 paise against
the US dollar to trade at 63.98 in early session on selling of
the US currency by exporters and banks.
The dollar was weak against major currencies in global
markets which supported the local currency, a currency dealer
said.
Domestic stock markets opening higher too bolstered the
rupee sentiment.
The rupee opened higher by 3 paise at 64.05 a dollar
against previous close of 64.08 a dollar. It moved in range of
64.06 a dollar to 63.95 a dollar in early trade before quoting
at 63.98 at 0945 hrs.
In global markets, the dollar fell against the British
pound, Japanese yen and the euro as traders were cashing in
recent gains fuelled by Donald Trump's tax cuts.
Yesterday, the rupee had made an impressive recovery
after an early jolt and closed 7 paise higher at 64.08 against
the US currency on fresh bouts of dollar selling from
exporters and banks.
Meanwhile, the benchmark BSE Sensex recovered by 110.26
points, or 0.32 per cent, at 33,958.29 in early trade today.
PTI
