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Rupee up 7 paise against dollar in early trade

Rupee up 7 paise against dollar in early trade The rupee strengthened by seven paise to 61.25 against the dollar in early trade on Wednesday at the Interbank Foreign Exchange on increased selling of the US currency by exporters and banks.

Besides, the dollar’s weakness against other currencies overseas as investors await news from the US Federal Reserve about interest rate plans for the world’s largest economy and a higher opening in the domestic equity market supported the rupee, forex dealers said.

The rupee had slipped by two paise to close at 61.32 against the US dollar in yesterday’s trade due to some demand for the American unit in an overall lacklustre trade.

– PTI