Rupee gains 16 paise against dollar in early trade

Mumbai: The rupee firmed up 16 paise to trade at 63.70 against the dollar in opening session on Friday, rising for a third straight day on increased selling of the US currency by exporters and banks.

Forex dealers said the dollar was weak against other currencies overseas which supported the rupee.

A higher opening in the domestic equity market also influenced the rupee uptrend, they added.

On Thursday, the rupee had gained 2 paise to close at 63.86 against the American currency.

Meanwhile, the benchmark BSE Sensex rose 130.58 points, or 0.37 per cent, to 35,390.87 in early trade on Friday.