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Rupee advances 12 paise against dollar

Staying on the upward trajectory for the sixth straight day, the rupee gained another 12 paise to trade at 67.22 against the US dollar in early trade at the Interbank Foreign Exchange on persistent selling of the greenback in view of increased foreign fund inflows.

Forex dealers said a strong opening in the domestic equity market gave the rupee a big support, but dollar’s strength against other currencies overseas limited the gains.

The rupee rose for the fifth straight session yesterday to close at a fresh 7-month high of 67.34, appreciating by another 20 paise on sustained selling of dollars by banks and exporters amid a strong rally in domestic equities.

Meanwhile, the benchmark BSE Sensex rose further by 112.06 points, or 0.45 per cent, to 24,719.05 in early trade.

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