The rupee appreciated by 11 paise to 66.98 against the U.S. dollar in early trade on Tuesday on increased selling of the American currency by exporters and banks.Dealers said besides increased selling of the American unit by exporters and banks, weakness in the dollar against other currencies ahead of Federal Reserve’s meeting, supported the rupee.

Further, a higher opening in the domestic equity market influenced uptrend in the rupee, they added.Yesterday, rupee had weakened by 21 paise to close at a 27-month low of 67.09 against the greenback amid strong overseas sentiment.Meanwhile, the benchmark BSE Sensex was trading 39.77 points, or 0.15 per cent higher, at 25,190.12 in early trade.

Source : thehindu.com

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