Rupee up 6 paise against dollar in early trade

Mumbai, Jul 24: Extending gains for the third straight day, the rupee strengthened by six paise to 60.03 against the US dollar in early trade today at the Interbank Foreign Exchange market on increased selling of the American currency by exporters.

The local currency had gained 15 paise to close at over one-week high of 60.09 per dollar yesterday following bullish local equities and sustained capital inflows.

Forex dealers said besides capital inflows, selling of the US currency also supported the rupee but a lower opening in the domestic equity market and dollar’s strength against other currencies overseas capped the gains. Meanwhile, the benchmark BSE Sensex fell by 25.91 points, or 0.10 per cent, to 26,121.42 in early trade today.