Mumbai, June 14: The rupee appreciated by 8 paise to 67.57 against the US dollar in early session today after the American currency weakened overseas. Dealers said fresh selling of the greenback by banks and exporters backed up the rupee. The dollar turned weak against other currencies overseas even after the US Federal Reserve lifted interest rates and signalled two more hikes this year and four in 2019.

Yesterday, the domestic unit ended 16 paise down to close at a near one-week low of 67.65 against the US currency on sustained dollar demand. The benchmark Sensex dropped by 126.09 points, or 0.35 per cent, to 35,613.07 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)