Rupee strengthens 11 paise against US dollar

Mumbai: The rupee strengthened 11 paise to trade at 64.34 against the US dollar in the morning session on Monday, riding on higher foreign funds inflows. 

The domestic currency received a boost from fresh selling of the American unit by exporters and banks amid a better opening in domestic equities. 

However, a strong dollar overseas squeezed the rupee's gains, traders added. 

On Friday, the rupee had ended flat at 64.45 against the US currency in an otherwise quiet and range-bound trade amid weaker dollar sentiment overseas. 

The benchmark Sensex rose 73.69 points, or 0.23 per cent, to 32,094.44 points in early trade today.