Rupee Vs Dollar : Rupee gains 4 paise in early trade

Snapping its last 5-day winning spree against the USA dollar, the rupee today fell by 12 paise to close at 65.41 on fresh demand for the American currency from banks and importers on the back of higher greenback overseas.

A fall in dollar against major world currencies globally, after a weak USA jobs data fuelled speculation that the world’s largest economy is not ready for an interest rate hike any time soon, also helped the rupee gain strength, dealers said.

Earlier, the rupee opened higher at 65.29 per dollar as against yesterday’s level of 65.41 per dollar at the Interbank Foreign Exchange (Forex) market.

Sellers said marketing of buck and ongoing worldwide account inflows by exporters backed the rupee.

The dollar index was traded down by 0.18 per cent against a basket of six currencies in the late afternoon trade. Meanwhile, the benchmark BSE Sensex reclaimed the 27,000-mark by surging 224.72 points, or 0.83 percent, at 27,010.27 in morning trade.