Rupee Strengthens to 62.37

The rupee recovered by 19 paise to 62.37 against the US Dollar in early trade at the Inter Bank Foreign Exchange market today on increased selling of the American currency by exporters.

Forex dealers said a higher opening in the domestic equity market also supported the rupee but the dollar's strength against other currencies overseas, following better- than-forecast US growth figures,capped the gains.

The rupee had lost 15 paise against the dollar to end at 62.56 in the previous session in line with a sell-off in emerging markets, after the US Federal Reserve Scaled back its stimulus program .

The benchmark BSE Sen sex rose 54.65 points or 0.26 per cent to 20,552.90 in early trade today.
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