The rupee strengthened by five paise to 61.67 against the US dollar in early
trade today at the Interbank Foreign Exchange on selling of the US currency by
exporters and banks amid sustained capital inflows.
The rupee
depreciated by 17 paise to end at nearly one-month low of 61.72 against the
greenback on Friday on sustained dollar demand even as domestic equities surged
to new highs.
Traders said besides selling of the American currency by
exporters and banks, continued foreign fund inflows helped the local currency to strengthen, but the
dollar's gains against rivals overseas and a lower opening in the domestic
equity market capped the rupee's rise.
Source:economictimes.indiatimes.com
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