Mumbai, May 11: The rupee showed some strength to quote 21 paise higher at 67.11 against the dollar in early trade today on fresh selling of the US currency by exporters and banks amidst 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 other currencies overseas after tepid inflation data supported the rupee.

A higher opening in the domestic equity market also influenced the rupee uptrend, they added. Yesterday, the rupee had lost 5 paise to end at a fresh 15-month low of 67.32 against the American currency on steady dollar demand from banks and importers. Meanwhile, the benchmark BSE Sensex rose 133.60 points, or 0.38 percent, at 35,379.87 in early trade today.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)