Rupee gains 9 paise against dollar in early trade

Economy

New Delhi : Rising for the fifth straight day, the rupee firmed up by another 9 paise to 71.22 against the dollar in opening trade Monday on increased selling of the American currency by exporters amid foreign fund inflows.

Forex dealers said weakness in the dollar against some other currencies overseas and foreign capital inflows in the domestic equity markets supported the rupee, but a lower opening of the domestic equity market capped the gains.

At the interbank forex exchange, the rupee started lower at 71.37 and softened to 71.44 against the US dollar, but regained strength to quote 9 paise higher at 71.22 against the last close of 71.31.

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