Rupee starts week on strong note, up 23 paise at 64.08
Rupee marked the third day of advance on Monday.
Marking the third day of advance, the rupee started the week on a strong note by rallying 23 paise to 64.08 against the US dollar in early session on Monday, fuelled by positive economic data.
Retail inflation fell sharply to 2.99% in April from 3.90% in March while inflation based on the wholesale price index slipped to a four-month low of 3.85%. However, industrial output growth slipped to 2.7% in March, based on the new series with the revised base year of 2011-12.
A higher opening in domestic stocks and continuous foreign capital inflows kept the rupee on a firm ground, dealers said. But the dollar's strength against some currencies overseas halted the rupee's march. On Friday, the rupee had strengthened by 7 paise to end at 64.31 on sustained selling of the American currency by banks and exporters.
Meanwhile, the benchmark Sensex surged 165.90 points, or 0.55%, to 30,354.05 in early trade.