Rupee firms up 10 paise against dollar in early trade

Besides, dollar's weakness against other currencies overseas after Fed Chair Janet Yellen indicated the central bank would take a wait-and-see approach to monetary policy.

By Author   |   Published: 20th Jan 2017   9:45 am Updated: 20th Jan 2017   10:14 am
Rupee
Representational Image.

Mumbai: Rupee recovered by 10 paise to 68.03 against the US dollar in early trade on Friday fresh selling of the American currency by exporters.

Besides, dollar’s weakness against other currencies overseas after Fed Chair Janet Yellen indicated the central bank would take a wait-and-see approach to monetary policy, suggesting any rate hikes this year could be slow, supported the rupee, forex dealers said.

However, they said, a lower opening of the domestic equity market, capped the gain.

The local unit had lost 5 paise to close at one-week low level of 68.13 in yesterday’s trade.

The benchmark BSE Sensex fell 80.82 points, or 0.30 per cent, to 27,227.78 in early trade today.