Rupee gains 6 paise against US dollar amid rally in domestic equities

Extending its rising streak for the third day, the rupee appreciated by 6 paise against the US dollar to 68.60 in early trade on Thursday amid weakness in the greenback against other currencies overseas and rally in domestic equities.

Selling of the American currency by exporters and banks and a higher opening in the domestic equity market boosted the rupee, forex dealers said.

The benchmark BSE Sensex rose by 288.22 points, or 0.77 per cent, to hit its all-time high of 37,272.86 and NSE Nifty too scaled a new peak of 11,237.45 in early trade today.

Yesterday, the rupee had gained 13 paise to close at a fresh one-week high of 68.66 against the US dollar as steady unwinding of the greenback by exporters and banks helped the local unit extend gains for the second day.