Market Report: Rupee up 19 paise against dollar in early trade

The rupee recovered from over seven-month low by appreciating 19 paise to 61.64 against the US dollar in early trade on Friday at the Interbank Foreign Exchange on selling of the American currency by exporters and banks.

Forex dealers said besides fresh selling of the American currency by exporters and banks, a higher opening in the domestic equity markets supported the rupee but dollar's strength agaisnt other curreices overseas, capped the gains.

The Indian rupee had plunged by 42 paise to close at over seven-month low of 61.83 against the Greenback yesterday on heavy capital outflows and a spike in demand for the US dollar.

Meanwhile, the benchmark BSE Sensex recovered by 71.37 points, or 0.27%, to 26,070.71 in early trade on Friday.