Mumbai: The rupee strengthened by 3 paise to 64.94 against the US dollar in
early trade at the Interbank Foreign Exchange market on increased
selling of the American
currency by banks and exporters.
Forex dealers said, besides
selling of the greenback by banks and exporters, dollar's weakness
against some other currencies overseas backed the rupee but a lower
opening of domestic equity markets, capped the gains.
Yesterday,
the rupee had ended higher by 18 paise at 64.97 against the US dollar
after the Reserve Bank lowered its inflation forecast and revised up its
growth outlook.
Meanwhile, the benchmark BSE Sensex slipped 93 points to 33,503.25 in early trade today.
PTI
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