Business: Rupee gains 9 paise against US dollar in early trade



The rupee strengthened by 9 paise to trade at 65.37 against the dollar in opening trade on Monday on fresh selling of the US currency by exporters and banks.

 A weak dollar in overseas markets and selling of the US currency by exporters and banks supported the rupee in opening trade, forex dealers said.

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

 On Friday, the rupee had lost 5 paise to end at 65.46 against the US currency on dollar demand from importers and suspected RBI intervention, ending its four-day dream run.

 Meanwhile, the benchmark BSE Sensex rose by 50.49 points, or 0.17 per cent, at 29,699.48 in opening trade.

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