Business

Rupee recovers by 8 paise against dollar in early trade

Rupee recovered by 8 paise to 66.38 against the dollar at the Interbank Foreign Exchange in early trade on Wednesday on fresh selling of the US currency by banks and exporters amid a higher opening of the domestic equity market.

Dealers said selling of the American unit by exporters and banks supported the domestic currency but dollar's strength against other currencies overseas, limited the rupee's gain.

Moreover, a higher opening in the domestic equity market also supported the rupee, they said.

The rupee had dropped by 25 paise to end at 66.46 in Tuesday's trade, snapping its nearly two-week winning spree on fresh demand for the dollar from banks and importers amid sharp fall in equity.

Meanwhile, the benchmark BSE Sensex regained the crucial 25,000-mark by rising 117.06 or 0.47 per cent to trade at 25,000.65 in early deals.

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