Snapping its four-day falling streak, the rupee rose by eight paise to 61.37 against the US dollar in early trade on Friday on sustained foreign capital inflows amidst a higher opening in the domestic equity market.
Increased selling of the American currency by banks and exporters amid sustained foreign capital inflows following a slew of reforms announced by the government supported the rupee but the dollar’s firmness against other currencies overseas capped the gains, dealers said.
Besides, a strong rally in domestic equity market in opening trade helped the rupee, they added.
The rupee depreciated by 10 paise to close at two-week low of 61.45 against the Greenback in Thursday’s trade after the US Federal Reserve kept in place its plans to maintain record low interest rate for some more time.
