The rupee recovered from over two-month low by rising 13 paise to 66.34 against the dollar in early trade today at the Interbank Foreign Exchange on fresh selling of the U.S. currency by exporters and banks.Forex dealers said besides selling of the American unit by exporters and banks, weakness in the dollar against some currencies overseas also supported the rupee.They said, however, a lower opening in the domestic equity market capped the rupee’s gain.

Yesterday, the rupee had lost 28 paise to close at more than 2-month low of 66.47 against the U.S. dollar on fresh month-end demand for the American currency from importers and banks amidst volatile equity markets.Meanwhile, the benchmark BSE Sensex fell by 115.48 points or 0.44 per cent to 25,703.86 in early trade.

Source : http://www.thehindu.com/

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