Rupee strengthens by 13 paise against dollar in early trade

The rupee advanced by 13 paise to 67.16 against the US dollar in early trade today on sustained selling of the American currency by banks and exporters.

Forex dealers said besides increased selling of the greenback by banks and exporters, a higher opening in the domestic equity market backed up the rupee at the Interbank Foreign Exchange.

However, the dollar’s strength against other currencies overseas capped the rupee’s gain, they added.

Yesterday, the rupee made a smart recovery against the US currency after a three-day straight fall and ended higher by 16 paise at 67.29 on fresh bouts of dollar selling by banks and exporters.

Meanwhile, the benchmark BSE Sensex rose 135.05 points, or 0.50 per cent, to 26,978.19 in early trade today