Rupee continues good run, gains another 16 paise Vs dollar

The rupee firmed up 16 paise to trade at 63.70 against the dollar in the 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.

Yesterday, 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.