Mumbai, Jul 2: The rupee rose marginally by two paise to 60.05 against the US dollar in early trade today on sustained capital inflows amidst a higher opening in the domestic equity markets.
Dealers attributed the rise in domestic currency to sustained selling of the dollar by exporters amidst heavy foreign capital inflows. Besides, dollar’s weakness against other currencies overseas also supported the rupee’s rise, they added.
The rupee rose by 10 paise — its biggest single-day rise in over ten days — to end at 60.07 against the dollar after the government hiked fuel and LPG prices to ease subsidy burden and rise in stocks.
Meanwhile, the benchmark BSE Sensex surged 216.52 points, or 0.84 per cent, to hit new record high of 25,732.87 in opening trade.