Rupee rebounds by 8 paise in early trade

Mumbai: The rupee strengthened by 8 paise to 66.79 against the dollar in early trade on Monday on fresh selling of the US currency by exporters and banks amid higher opening in the domestic equity market.

Forex dealers said besides selling of the American currency by exporters and banks, weakness in the dollar against some currencies overseas propped up the rupee.

Further, a higher opening in the domestic equity market influenced the rupee uptrend, they added.

On Friday, the rupee had lost 23 paise to close at 66.87 against the US currency in highly volatile trade.

Meanwhile, the benchmark BSE Sensex rose by 128.38 points, or 0.36 per cent, at 35,043.76 in early trade on Monday.