Rupee recovers 17 paise against dollar in early trade

Mumbai, Aug 14: The rupee rebounded by 17 paise to 61.04 against the dollar in early trade today at the Interbank Foreign Exchange market on increased selling of the American currency by exporters and banks.

Besides, the dollar’s weakness against other currencies overseas and a higher opening in the domestic equity market also supported the rupee, forex dealers said. The rupee had fell 13 paise to end at 61.21 against the American currency in yesterday’s trade following fresh dollar demand from importers, amid uptick in retail inflation and slowing industrial production growth.

Meanwhile, the benchmark BSE Sensex rose by 56.03 points, or 0.22 per cent, to 25,974.98 in early trade today.