Rupee gains four paise against dollar in early trade

The rupee gained four paise to 66.67 against the dollar in early trade on Friday at the Forex market on increased selling of the US currency by exporters and banks amidst higher opening in the domestic equity market.

Forex dealers said that besides selling of the American currency by exporters and banks, weakness of the US dollar against other currencies overseas also supported the rupee.

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Further, a higher opening in the domestic equity market influenced the rupee uptrend, they added.

On Thursday, the rupee closed flat at 66.71 against the US dollar as cautious traders avoided taking any position ahead of the exit polls outcome and concerns over an impending the US Federal Reserve rate hike next week.

Meanwhile, the benchmark BSE Sensex rose by 146.50 points, or 0.50%, at 29,076.63 in early trade on Friday.