Rupee continues good run, gains another 7 paise against dollar
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Mumbai: The rupee firmed up 7 paise to 68.13 against the dollar in early trade today, rising for a fifth straight day on increased selling of the US currency by exporters and banks.
A higher opening in the domestic equity market gave the uptrend some momentum, but the euro sinking to a 20-month low against the American currency after Italy Prime Minister Matteo Renzi resigned following a heavy referendum defeat, capped the gains.
On Friday, the rupee had gained 14 paise to close at 68.20 -- the highest level in more than a week -- on growing expectations that the Reserve Bank will lower key rates in its policy review scheduled for December 7.
Meanwhile, the benchmark BSE Sensex rose 42.63 points, or 0.16 per cent, to 26,273.29 in early trade Monday.