Rupee spurts 18 paise against US dollar in early trade

The rupee strengthened by 18 paise to 66.84 against the dollar in early trade at the Interbank Foreign Exchange today on selling of the US currency by exporters and banks amid foreign fund inflows.

Mumbai: The rupee strengthened by 18 paise to 66.84 against the dollar in early trade at the Interbank Foreign Exchange on selling of the US currency by exporters and banks amid foreign fund inflows.

A fall in dollar against major world currencies globally, after the US Federal Reserve decided against lifting interest rates, also helped the rupee gain strength, dealers said.

Besides, increased selling of the dollar by exporters and banks and a higher opening in the domestic equity market supported the rupee, they added.

Yesterday, the rupee had closed almost flat at 67.02 against the American unit amid caution ahead of the US Federal Reserve policy decision.

Meanwhile, the benchmark BSE Sensex zoomed by 364.80 points, or 1.27 percent, at 28,871.92 in early session on Wednesday.