Rupee appreciates 11 paise against American currency

The rupee gained 11 paise to 66.20 against the USD in early trade on increased selling of the American currency by exporters.

rupeeBesides, weakness in against other currencies overseas ahead of the US retail data supported the domestic unit, forex dealers said.

They, however, said a lower opening of the domestic equity markets, disappointing Index of industrial production (IIP) numbers and rising retail inflation, capped the rupee’s gain.

The rupee had rose 13 paise to close at 66.31 against the US dollar at the Interbank Foreign Exchange market on Tuesday.

 Forex market remained closed on Wednesday and Thursday on account of “Diwali Balipratipada’.

The benchmark BSE Sensex declined by 228.41 points or 0.88% to 25,638.54 in early trade