Rupee up as dollar tumbles against other currencies
Increased selling of the US currency by exporters and banks also supported the Indian currency.
The rupee strengthened by 6 paise to 63.85 against the dollar in early trade today on increased selling of the US currency by exporters and banks amid firm domestic equity markets.
Forex dealers said that weakness in the dollar against other currencies overseas also supported the rupee.
Yesterday, the rupee ended 25 paise higher at 63.91 against the US dollar on fresh selling of the American currency by banks and exporters.
Meanwhile, the benchmark BSE Sensex rose 132.42 points, or 0.48%, at 27,591.65 in early trade today.