Rupee firms up by 16 paise against dollar

Mumbai: The rupee appreciated 16 paise to 63.92 against the US dollar in early trade at the Interbank Foreign Exchange on June 9 on fresh selling of the American currency by exporters and banks. Besides, strengthening of the euro against the dollar in overseas market on solid German data supported the rupee, but a lower opening in the domestic equity market limited the gains, forex dealers said.

The rupee had tumbled 33 paise to end at a 4-week low of 64.08 against the American currency in yesterday's trade on the back of a firm greenback in the overseas market and sharp fall in the equity market. The benchmark BSE Sensex fell 76.59 points, or 0.28 per cent, to 26,446.50 in early trade on June 9.