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The rupee was trading marginally strong by 4 paise at 62.33 against the dollar at 11.16 a.m. local time.
The rupee appreciated by 8 paise to 62.29 in early trade at the Interbank Foreign Exchange today on increased dollar selling by exporters and some banks amid sustained capital inflows.
A higher opening in the domestic equity market also supported the rupee, but the dollar’s strength against other currencies overseas ahead of US jobs data, capped the gains, forex dealers said.
The rupee had gained 20 paise to close at a two-week high of 62.37 yesterday on firm domestic equity market.
Meanwhile, the benchmark BSE Sensex recovered by 127.87 points or 0.63 per cent to 20,438.61 in early trade today.
The Hindu Business Line
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The dollar extended gains to an almost three-month high and Treasury yields rose as confidence in the world’s largest economy grows in the buildup to the latest jobs data. European shares edged lower