Rupee strengthens 26 paise versus dollar

The rupee recovered by 26 paise to 65.88 against the US dollar at the Interbank Foreign Exchange market in early trade on selling of the American currency.

Forex dealers said besides selling of the American currency by exporters and banks, weakness in the dollar against other currencies supported the rupee.

Further, domestic equity markets opening on strong note also influenced the rupee uptrend, they added.

The rupee had lost 4 paise versus the dollar to end at 66.14 in the previous session on renewed dollar demand from importers amid global volatility.

The benchmark BSE Sensex rose 455.73 points, or 1.77%, to 26,170.39 in early trade today.