The Indian rupee was trading nearly 2 paise higher at 66.68 in early trade on Monday on account of selling of American currency by banks and importers amid a firm start of domestic equity market. However, the local currency started the day around 4 paise lower at 66.74 against the dollar.
Benchmark equity indices BSE Sensex and NSE Nifty surged over a percentage point in early trade following firm global cues. The 30-share BSE Sensex was trading 278.12 points up at 27,552.27, while the 50-share Nifty index was trading 102 points up at 8,535.75.
The rupee on Friday recovered by 5 paise against the US currency to end at 66.70 on stray dollar selling even as stock markets continued to decline. According to market experts, continued selling by foreign institutional investors in equities and debt on the back of wavering global financial markets restricted the rupee gains on Friday.
The rupee on Friday recovered by 5 paise against the US currency to end at 66.70 on stray dollar selling even as stock markets continued to decline. According to market experts, continued selling by foreign institutional investors in equities and debt on the back of wavering global financial markets restricted the rupee gains on Friday.
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