Rupee snaps 5-day losing streak; rises to 55.60 against US dollar

Rupee snaps 5-day losing streak; rises to 55.60 against US dollar Mumbai: The rupee on Tuesday strengthened by 13 paise to 55.60 against the US dollar in early trade after remaining weak for five straight days at the Interbank Foreign Exchange, aided by selling of the American currency by exporters and banks.

Besides, a higher opening in the domestic equity market and strengthening of the euro against the dollar overseas following a long-awaited bailout deal for Greece, also supported the rupee, forex dealers said.

The rupee had lost 22 paise to end at 55.73 against the US dollar in yesterday's trade due to sustained demand for the American currency from importers and banks.

Meanwhile, the BSE benchmark Sensex rose further by 110.98 points, or 0.60 percent, to 18.647.99 in early trade today.

PTI